Delta Financial Systems Limited

SIPP Operators Thematic Review

Whilst there is still no news from the Financial Conduct Authority (FCA) on revised capital adequacy requirements for SIPP operators this past week has seen the publication of FG13-08 – A guide for Self-Invested Personal Pensions (SIPP) Operators. http://www.fca.org.uk/your-fca/documents/fg13-08

This will be of relevance to all of our SIPP~Pro clients and once you have all had the opportunity to read and digest the contents we would welcome your thoughts on how SIPP~Pro can help you meet your obligations under the FCA’s guidance.

The third SIPP Operators Thematic Review has also commenced this week and is intended to look at areas highlighted in the 2012 thematic report, and focus specifically on the following:

  •       SIPP operator financial resources;
  •        the quality of business SIPP operators allow within their schemes, and
  •        the operational procedures and controls in place.

We know from the previous reviews that the FCA request a range of information in advance of visits and telephone interviews and we have had sight of the FCA’s published guidance on their latest round of reviews. This can easily be extracted from SIPP~Pro using the Report Engine and we have compiled a guidance note for you to follow. Therefore please do contact the Support Team at support@deltafs.co.uk or on 0845 6800143 if you would like them to send you this.