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Read the latest Taylor Patterson company news, or news relating to bespoke pension arrangements .

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Regulation Round Up

Revised Documentation

In response to CP12/29 Taylor Patterson has been busy reviewing all of its current Key Features Documents as well as all of our Scale of Charges.  All of the new documents will be available on our website in early April.

Introducer Agreements

In response to the FSA thematic review in 2012 Taylor Patterson has been updating its documentation in relation to our professional introducers. Over the coming months we will be talking to our existing introducers about the new paperwork which now includes:

·         Introducer Agreement which now includes an appendix setting out the responsibilities of the Provider and the Advisory Firm.

·         Adviser Charging Agreements (along with sample letters) in order to meet the requirements of RDR.

·         Introducer Profile Questionnaire – to help us better understand your business and how we can improve our service to assist you.

If you would like to know more about our professional introducer programme then please contact Kerry Houghton on 01772 550614 or by email Kerry.houghton@taypat.co.uk

Pensions Liberation

Much is currently being written about Pensions Liberation and what to look out for to both consumers and pension professionals. As scheme administrators when we receive a request for a transfer and potentially detect the warning signs of pensions liberation we will be following the guidance which has been issued by The Pensions Regulator. Further information can be found on via the following link:

www.thepensionregulator.gov.uk/trustees/pension-liberation-fraud-trustees

Harlequin Property

I am sure you have seen the recent press surrounding the Essex based overseas property agents, Harlequin. Investigations are underway into the Company which promised to build 6,000 luxury villas in the Caribbean.

Whilst SIPP Providers do not make investment decisions we do need to ensure that due diligence is carried out on any investment within our wrapper to ensure it is permissible under the rules.

Taylor Patterson reviews each esoteric investment on a case by case basis and has no exposure to the Harlequin Property scheme.

Capital Adequacy Requirements

As discussed in the last bulletin, the consultation period closed on the 22nd February. Taylor Patterson is very supportive of the recommendations that were submitted to the FSA by AMPS. A final decision on the new capital requirements is expected in Q3/Q4 of 2013.

To discuss any of the areas discussed please contact our team on 01772 555 073

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