Posted on 24/08/2017 by Ian Stewart
Dentons has always aimed to offer clients the widest choice of assets within their self invested pension. We continuously monitor and assess non-standard and sophisticated assets that can be held and are frequently asked to review such investments. Where we do so, we must take into account the business risk assumed by us where non standard assets are received, both from a position of administrative flexibility and potential for failure.
As a result of a recent review, with effect from 1 September 2017 we have made the decision to no longer accept new requests for direct individual accounts or stockbroker accounts to trade in foreign exchange (FX) or contracts for difference (CFDs) within our Dentons SIPP or SSAS portfolios.
We will however continue to accept these investments as part of a collective investment scheme or a portfolio with an FCA regulated discretionary fund manager, subject to approval by our Investment Committee. Investments in FX, CFDs, Futures and Warrants will be limited to 50% of the SIPP or SSAS fund value and are available only to sophisticated or high net worth clients.
This change will not affect any assets that are currently held.
Our Investment Committee was initiated by senior management as a way of monitoring and controlling increasingly sophisticated and non-standard investments and ensuring regulatory good practice.
The Committee conducts internal investigations as well as using the services of an external party to carry out 3rd party due diligence and provide investment reports. This due diligence, which in some cases can take a few weeks to complete, forms the basis of Dentons’ decision making process for approving or declining such investments as suitable to be held within the SIPP and SSAS.
Such a robust and structured process enables Dentons to continue to review and accept non-standard investments within its SIPP and SSAS.
If you would like to discuss our investment proposition with us or to find out more about Dentons, please get in touch with your regional Dentons contact.
Find your local contact