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.

A jury at Southwark Crown Court has today found guilty David Ames, 70, one of the key figures behind the extensive £226m Harlequin fraud which conned many pension investors.

The Serious Fraud Office has today charged David Ames, chairman of the Harlequin Group of companies, which was used by Sipp investors, with three counts of Fraud by Abuse of Position, contrary to section 1 of the Fraud Act 2006.