| The SIPPing Forecast: navigating recent case-law and future regulation Webinar 7 June 2022, from 10am – 11am. Speakers: Stephen Kosmin & Leo Davidson Since the introduction of pension freedoms last decade, the suitability of advice concerning self-invested personal pensions (“SIPPs”) and associated transfers has been the subject of considerable regulatory and judicial attention. Recent case-law increasingly supports the imposition of liability on firms acting at various stages of the advisory and investment processes, with the adequacy of the due diligence undertaken into underlying investments being a particular focus. At the same time, the scrutiny of firms’ transfer and related investment advice by the Financial Ombudsman Service and the Financial Conduct Authority is probing. Through a combination of public statements and alerts, consultations, and the expansive interpretation of its Principles for Businesses, the Financial Conduct Authority appears to place considerable weight on consumer protection. Significant developments can be expected in the near future. To understand how choppy the waters might become, we will address: Recent case-law: Stephen Kosmin will address recent case-law, including Berkeley Burke SIPP Administration Ltd v Financial Ombudsman Service Ltd [2019] Bus LR 437, Adams v Options UK Personal Pensions LLP [2021] EWCA Civ 474, Avacade Ltd v Financial Conduct Authority [2021] EWCA Civ 1206, and the very recent case of Portal Financial Services LLP v FOS [2022] EWHC 710 (Admin). Future regulation: Leo Davidson will consider the future direction of the regulation of pension transfers and the ways in which the objective of consumer protection will be achieved, with preventative, disciplinary and compensatory measures. He will focus in particular on the FCA’s ongoing consultation paper “CP22/6: Consumer redress scheme for unsuitable advice to transfer out of the British Steel Pension Scheme” (closing on 30 June 2022). Details Date: 7 June 2022 Time: 10am – 11am To register in advance for this webinar please email RSVP@11kbw.com Webinar is free of charge. After registering, you will receive a confirmation email containing information about joining the webinar. This webinar will be hosted by Zoom. Please see Zoom’s website for their Terms & Conditions. |
