A Sipps firm has backed the FCA's new capital adequacy rules and announced it has acquired the Sipp book from a pension administration provider for an undisclosed sum.

Changes to the capital adequacy formula, which were announced this week, have been described as 'odd' by a Sipp provider.

The best part of two years is a long time to wait for the result of a consultation, and you would expect to see some progress after that sort of delay.

The Association of Member-Directed Pension Schemes has declared it has "serious issues" with aspects of the new capital adequacy rules.

A Sipps firm has raised concerns over the new capital adequacy rules published by the FCA.

The FCA has revealed new rules on capital adequacy for Sipp operators this morning which will come into effect in September 2016.