Scheme:
Fidelity SIPP
Complainant:
Mr E
Respondent:
Fidelity International Ltd
Topic:
Administration
Ref:
PO-29035
Date:
Mon 9 Sep 2019
Outcome:
Not upheld

Ombudsman’s Determination

Outcome

I do not uphold Mr E’s complaint and no further action is required by Fidelity.

Complaint summary

Mr E’s complaint is that Fidelity refused to allow him to re-invest dividend income into the SIPP when he ceased to be a UK resident, due to cross border regulations.

Fidelity also required him to sell partial shares held in the SIPP, following amendments to its terms and conditions (Terms and Conditions) and to retain the proceeds in cash, instead of re-investing them in the SIPP.

View determination