James Hay SIPP granted authorisation by the FSA

27 February 2007

Press Release

James Hay, the UK's leading SIPP provider will be authorised by the FSA for SIPP business from 6 April 2007.

Stefano Del Federico, UK Sales Director, Abbey Wealth Management, said: "We are pleased to have received early confirmation of the FSA authorisation of our SIPP business. This complements our Wrap authorisation and the early decision fits well with our plans for the provision of a fully regulated service in all areas of James Hay business from April."

"We welcome the new regulation - it is good for encouraging the SIPP market and customer confidence due to the increased protection offered by investing in a regulated product.

"We believe that both the A-Day changes and new SIPP regulation will lead to strong future growth in the SIPP market, both for new business and for the consolidation of existing pension benefits."

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