Unregulated investments, which turn out to be not worth the paper they’re not usually written on, are the cause of most scandals and claims to our compensation scheme So why not ban them? Or at least, outlaw their inclusion in SIPPs (self-invested pensions, to which many are persuaded to transfer their pensions), whence most of the money disappearing into get-rich-quick Guatemalan holiday home developments and the like comes. But, like most things, it’s apparently not that simple…
“Advisers fearful of further compliance and regulation”
We know, of course we know, that regulation is, or at least should be a ‘good thing’. If those who need or should seek advice can be confident that they’ll be told the right thing, that someone has looked at those ’too good to be true’ investments before they’re allowed to take your money; or, in the case of a Woodford, while they’re raking it in to make sure it’s going where it’s supposed to.
