- For APRA-regulated funds,
Treasury: Protecting Consumers and the Promise of Superannuation in an Evolving Financial Ecosystem
New briefing note: CP26/20 and the FCA’s proposed due diligence rules for SIPP operators: How did we get here?
On 22 June 2026, the Financial Conduct Authority published consultation paper (CP26/20) setting out proposals for adapting its rules for a changing market in self-invested personal pensions (SIPPs).
This briefing note explores the recent history of the SIPP industry to understand why the FCA are now taking this step to formalise a due
Adapting rules to a changing SIPP market – what CP26/20 means for SIPPs and SIPP operators: The Pension Scheme Money and Assets (PSM&A) regime
As the Financial Conduct Authority (FCA) notes, business models have evolved in self-invested personal pensions (SIPP) sector over time. Some SIPP operators have taken advantage of structures through which unauthorised trustee companies hold money and assets for the scheme; while others have sought to provide ‘CASS-like’ protections where it does not
Adapting rules to a changing SIPP market – what CP26/20 means for SIPPs and SIPP operators
Introduction
On 22 June 2026, the Financial Conduct Authority (FCA) published Consultation Paper ‘CP26/20: Adapting our rules for a changing market: self-invested personal pensions’. According to the FCA, the self-invested personal pensions (SIPP) market in the UK has grown substantially, both in terms of complexity of business models, structures and assets
APRA publishes findings of inaugural System Risk Stress Test
On 30 June 2026, the Australian Prudential Regulation Authority (APRA) published the findings of its inaugural System Risk Stress Test (SRST), which focused on links between the banking and superannuation system. The SRST took place last year and covered four major banks and six large superannuation funds and examined how a
ASIC calls platform trustees to account over persistent failures to safeguard super savings
On 29 June 2026, the Australian Securities and Investments Commission (ASIC) issued Report 833 – Safeguarding super: How well are platform trustees monitoring risks to retirement savings?
ASIC and the Australian Prudential Regulation Authority have been concerned about gaps in trustees’ oversight of advisers, advice licensees and investments that are made available to
FCA publishes consultation paper on proposals for adapting its rules for a changing market in SIPPs
On 22 June 2026, the Financial Conduct Authority (FCA) published consultation paper (CP26/20) setting out proposals for adapting its rules for a changing market in self-invested personal pensions (SIPPs).
Background
In the FCA’s Discussion Paper 24/3 Pensions: Adapting our requirements for a changing market, published in December 2024
REP 831 ‘Delivering on death benefits: Have super trustees stepped up?’
On 10 June 2026, the Australian Securities and Investments Commission (ASIC) issued Report 831 ‘Delivering on death benefits: Have super trustees stepped up?’ (REP 831).
Background
In November 2024, ASIC made a commitment to check in on the progress all superannuation trustees were making in improving their death benefit claims handling
FOS responds to FCA CP26/10: Simplifying the pensions and investment advice rules
- The FOS is adapting its approach to align with the direction of travel set out in the FCA’s
APRA finalises amendments to the capital treatment for longevity products
On 31 March 2026, the Australian Prudential Regulation Authority (APRA) issued its response paper finalising amendments to the capital treatment for longevity products.
Background
The response document follows two rounds of consultation that took place in June 2025 and October 2025.
The response document includes an attachment which summarises the key changes to