In December 2008 the FSA began a thematic review of small self-invested personal pensions (SIPPs) operators to determine the extent to which they are adhering to the Principles for Businesses and the rules within the FSA Handbook. The FSA contacted approximately 60 small SIPP operator firms, requiring them to complete and return a questionnaire covering a broad range of SIPP operator activities. Approximately 50% of the population were then selected for a telephone assessment, and some were subsequently visited.
The FSA has now published a report in which it describes the findings of the thematic review. The FSA also makes clear in the report what it expects of SIPP operator firms in the areas it reviewed. Examples of good practices are also provided.