The Financial Conduct Authority has warned self-invested personal pension providers to continue assessing any non-standard investments for suitability, despite a High Court ruling this week that called into question that approach.
According to this week's Financial Adviser front page story, the regulator has insisted Sipp operators must continue to follow its guidance, days after a High Court judge ruled that a company explicitly acting on an execution-only basis cannot be liable for a member’s choice to invest in a high-risk investment.
The High Court rejected submissions from the FCA and sided with provider Carey Pensions, which was defending a claim made by a former client.
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Damian Fantato
Digital Editor, Financial Adviser
