FCA Finalises Changes Originally Proposed In October 2012

New guidance has been finalised to provide operators of self-invested personal pensions (SIPPs) with advice on updates made to several Financial Conduct Authority (FCA) handbooks.

The document, which the FCA states will be of interest to SIPP operators as well as firms, trade bodies and consumer representatives, relates to amendments to publications including the Conduct of Business sourcebook.

Updated guidance was initially proposed in October 2012 when a thematic report on the area was originally published.

The FCA has stated that no major changes have been made to the guidance following the consultation period into the changes.

Expert Opinion

While many SIPP operators may be aware of the changes originally proposed by the FCA 12 months ago, it will of course be vital for them to thoroughly review the latest documents to ensure they are meeting all necessary guidelines. <br/> <br/>“The FCA of course examines many areas and it is vital that companies stay abreast of all of the latest developments they are looking at. <br/> <br/>“Failure to do so could have significant consequences.”