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UBS staff shocked as Madoff Sipp exposure revealed

by Danielle Levy on Feb 21, 2014 at 10:27

A spokesperson for Standard Life Trustee Company said: ‘We currently have a very small number of Sipp customers impacted. We have been in communication with all of our discretionary investment managers and while some have confirmed there is no exposure, others are continuing to investigate.

‘For our customers that are impacted, and who would like Standard Life to claim for compensation on their behalf, we will do so ahead of the deadline of 28 February.’

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2 comments so far. Why not have your say?

Keith Cobby

Feb 21, 2014 at 11:57

Isn't a SIPP managed on a discretionary basis a contradiction?

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Barry Bennett

Feb 21, 2014 at 16:55

Yeah - should be called a DIPP!

But isn't Discretionary - in the RDR client centric world - also a contradiction.

Discretion ~ choice etc etc.

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