Ombudsman backs Standard Life over esoteric Sipp investment

FT has an interesting article on Pension Ombudsman's critique of the regulator’s handling of Sipp regulation in a consumer’s complaint

SIPP Providers are pension companies who administer a persons pension wrapper, however the individual can select what they invest in within that wrapper.

There has been a lot of debate about the potential liabilities of SIPP providers in light of the failures and fraud investigations in some unregulated overseas funds which investors have put into their SIPPs.

Although this debate is likely to continue (particularly following the FSA's Alerts in January 2013), the Pension Ombudsman decision is likely to be welcome news to SIPP providers.