Pensions - SIPP
Exotic investments placed in SIPP without due diligence
Mandatory ADR
Max award: £445,000 (from 1 Apr 2025)
8 weeks firm; FOS 6 months; FSCS £85k cap for investments
Uphold rate: 34% (FOS 2024/25)
Key Legislation
FCA COBS; FCA SIPP Operator Guidance — COBS 9.2 (suitability); COBS 9A; SIPP Operator Good Practice
Complaint Route: Financial Ombudsman Service
Type: Ombudsman (binding on firm)
Max award: £445,000
Uphold rate: 34%
Average resolution: 180 days
Pre-conditions: Complain to firm first; firm has 8 weeks to resolve; then refer to FOS within 6 months of final response
Visit FOS websiteCompanies in This Sector
Hargreaves Lansdown (FCA 115248)AJ Bell (FCA 175612)standard Life (FCA 186694)
Annual complaint volume: 305,726 (FOS 2024/25 total)
Note: Compensation range: Investment losses refunded + advisory charges