FSCS U-turns and agrees to cover charge for Hartley Sipp members

"If either of these scenarios were to happen, there would be serious adverse consequences for clients, including the risk of a deregistration charge, inability to move assets and in the worst case, loss of assets.

"We can confirm that the only available option to fund the individual transfer out of client assets is the clients' themselves by way of the EAC."

amy.austin@ft.com