The Financial Services Compensation Scheme (FSCS) is now open to claims against Berkeley Burke SIPP Administration Limited (BBSAL).

SIPP provider Berkeley Burke has been ordered to pay almost £1m in costs to people left out of pocket after making high-risk unregulated investments which were accepted into the firm’s SIPPs. 

The SIPP providers body AMPS (Association of Member-Directed Pension Schemes) has urged members to learn lessons from the implications of the recent Berkeley Burke SIPP court ruling but says the case is “no game changer.”

The FCA has written to SIPP firms to reiterate regulatory commitments following the judgement in the Berkeley Burke case.