Pension provider goes into administration following complaints relating to customer SIPPs

Article summary

The Financial Conduct Authority (FCA) has announced that following complaints in relation to historic high-risk non-standard investments (NSIs) into customers’ self-invested personal pensions (SIPPs), the directors of Guinness Mahon Trust Corporation Limited (GMTC) have appointed administrators Smith & Williamson LLP. The administrators have immediately sold the SIPP business to Hartley Pensions Limited (Hartley). The administrators will be contacting clients of GMTC shortly.