Mis-sold Green Energy Investments
Many eco-conscious investors may have been attracted to the idea of investing in green, sustainable energy projects. But many of these projects were, in fact, unregulated by the Financial Conduct Authority (FCA) and carried extremely high risks, as a result many green energy SIPPs were mis-sold to unsuitable investors. Some, including the likes of the Sustainable Agro Energy project, were even investigated by the Serious Fraud Office and shut down, leaving investors with nothing. In these cases it is possible for customers to seek compensation and recoup some of their losses.
Did you have a SIPP investment?
A self-invested personal pension (SIPP) is a scheme that gives you a higher level of control over your own pension. This means you get access to more choices on where you can invest your retirement fund, allowing you to manage your own investments and savings, rather than relying on a pension company or fund manager. The appeal of such a scheme is clear, but the risks associated with it are sometimes not made obvious to investors.
Mis-sold SIPPs have become the subject of an increasing number of complaints made to the Financial Ombudsman Service (FOS) and the Financial Services Compensation Scheme (FSCS).
