John Moret: The SIPP fallout as another one bites the dust... The news of Hartley Pensions appointment of administrators may not have come as a huge surprise given the recent restrictions imposed on them by the FCA but I believe it is of great significance for the world of SIPPs. It also once again brings into question the effectiveness of regulatory control of the SIPP market. I have no specific knowledge of Hartley Pensions nor the reasons for them entering administration. What I find surprising is that Hartley Pensions, since being set up in 2016, has been an active purchaser of the books of failed SIPP providers such as Berkeley Burke, Lifetime SIPP, GPC, Guinness Mahon and Greyfriars Asset Management. I don’t have precise figures but I would estimate that there may be as many as 10,000 SIPP investors whose customer journey has been little short of a disaster - all under the FCA’s watch. The recent Public Accounts committee investigation report into the British Steel transfer scandal was scathing in its criticism of the FCA with comments such as: The FCA has consistently been behind the curve