Sipp providers must check offshore investments, UK rules
FCA warns Sipp providers to notify regulator of any financial strains due to claims from ruling
Ombudsman
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PI woes predicted for small adviser firms after FOS award hike
Pimfa warns that move could act as a barrier to entry for smaller IFAs and widen the advice gap
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FCA to hike maximum ombudsman compensation to £350,000
Under the current limit, complainants suffer an aggregate financial harm of £113m per year
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Assets of beleaguered Liberty Sipp sold
Buyer will not take on potential liabilities linked to mass mis-selling claims
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Pension scam victims victorious against Sipp provider
Ruling opens the door for thousands who have lost money to claim back their losses, says law firm
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Financial Ombudsman reports 77% rise in Sipp cases
Nearly 60% of self-invested personal pension complaints upheld
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Phoenix Life vindicated in ombudsman decisions
Complaints about mis-selling, high commission and underperformance were not upheld
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UK regulator goes after two introducers over pension transfers
FCA reveals the names of two companies and three individuals
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IFAs claim ombudsman biased towards complainants
In a recent IFA survey, 83% thought the financial ombudsman treated them as “guilty until proven innocent”
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Phoenix Life admits error in closing Sipp
The UK’s Pensions Ombudsman has upheld a complaint against insurer Phoenix Life, but absolved financial product provider James Hay of any wrongdoing, after a self-invested personal pension (Sipp) was wrongly disinvested.
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Cold-called investor wins compensation
A company that downplayed the risks of buying shares in unlisted companies to a cold-called investor has been ordered by the UK’s Financial Ombudsman Service (FOS) to put the investor into the position she would have been in had she never invested.
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Intrinsic to compensate client for pension transfer charges
Intrinsic Financial Planning has been ordered by the UK’s Financial Ombudsman Service (FOS) to compensate a client who says he was not aware of the charges that were applied to his pension on transfer.