GPC SIPP Ltd
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GPC SIPP Ltd entered into administration on 11 June 2019. This could potentially lead to their customers suffering financial losses on pension investments made through the company.
While GPC SIPP Ltd have not yet ceased trading, it may be possible for clients and customers who have lost money through dealings with this company to seek compensation using claims procedures established by the Financial Services Compensation Scheme (FSCS).
It is possible that GPC SIPP, in some instances, failed to comply with their regulatory duties to exercise appropriate levels of due diligence on the investments that were made through the pension products they provided.
Due to the fact that SIPPs provided by GPC SIPP Ltd were often used to invest into high risk, unregulated funds and asset classes, there may be strong grounds for their clients to argue that there has been a failure to exercise this due diligence. It follows that those affected may be able to recover compensation for losses sustained through dealings with GPC SIPP Ltd as a result.
The FSCS commented;
“FSCS is working closely with the firm’s administrators and is investigating the practices of GPC, specifically to establish what levels of due diligence were carried out by the firm, prior to permitting customers to make specific investments under their pensions.”
We are currently acting for clients who have suffered losses on pension investments with GPC SIPP Ltd. If you are similarly affected then we would like to hear from you as we may be able to assist you in bringing a No win, No fee claim to recover your losses. Please call us on 0208 870 7849 for further advice, or fill in the form and one of our Solicitors will call you back at a convenient time.
Have you suffered financial losses on a SIPP operated by a SIPP operator? If so, then you may have grounds for bringing a No Win No Fee claim.
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