Financial services and SIPP group STM, the owner of the London & Colonial and Options SIPP businesses, has sold some of its Gibraltar-based businesses for just over £3m.

SIPP and cross-border financial services firm STM has expressed “disappointment” at the Court of Appeal’s decision to allow a challenge to the judgment in the long-running ‘Adams’ case.

Options Pensions has launched a Sharia SIPP in partnership with Islamic investment group Wahed Invest.

STM Group raked in £2.7m in profits from its acquisition of Carey Pensions earlier this year in what it classed as a bargain purchase.