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19 September 2019 | Comment | Article by Neil Stockdale

North Star – another SIPP provider to hit the headlines

North Star, a self-invested personal pension (SIPP) provider was dissolved in June 2019.

The industry’s lifeboat fund, the Financial Services Compensation Scheme (FSCS) has confirmed that it will accept claims against North Star, likely to be based on their failure to comply with their due diligence obligations in allowing their customers to make high risk investments through their SIPPs.

North Star is just the latest in a long line of SIPP operators that has suffered the same fate, for the same reasons.

The FSCS will now consider claims against the following SIPP operators:

  1. Brooklands Trustees Ltd
  2. Stadia Trustees Ltd
  3. Montpelier Pension Administration Services Ltd
  4. The Lifetime SIPP Company Limited
  5. GPC SIPP Ltd
  6. Pointon York Limited
  7. North Star
  8. Berkeley Burke

If you invested via any of the above SIPPs and have lost money, Hugh James’s specialist lawyers can help. Contact our financial mis-selling team for a free initial consultation.

Author bio

Neil Stockdale

Partner

Neil is head of the firm’s group actions and financial mis-selling teams, specialising in handling claims for financial mis-selling relating to energy contracts, pensions, investments and timeshares.

Disclaimer: The information on the Hugh James website is for general information only and reflects the position at the date of publication. It does not constitute legal advice and should not be treated as such. If you would like to ensure the commentary reflects current legislation, case law or best practice, please contact the blog author.

 

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