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 diligence framework for SIPP operators.