Hartley Pensions Limited (Hartley Pensions), is a Self-Invested Personal Pension (SIPP) operator authorised and regulated by the Financial Conduct Authority (FCA). It also provides administration for a small number of Small Self-Administered Schemes (SSAS), regulated by the Pensions Regulator.
April 2025 update
The FCA is aware that some Hartley clients have received today, 30 April 2025, a communication from the Joint Administrators about unauthorised movement of monies from their SIPPs by Hartley. The letter states these monies were subsequently paid back before Hartley entered administration. The FCA understands the monies in question are the subject of a civil litigation case in the Isle of Man being brought by a private individual. The Joint Administrators have confirmed they are ring-fencing the monies whilst this is being undertaken, but that partial transfers for uncrystallised clients may be possible.
In light of the Joint Administrators’ communication, the FCA today, 30 April 2025, confirms that it has been conducting an enforcement investigation into Hartley Pensions Limited (Hartley) since 2022.
The FCA is not able to provide any further details at this stage.
We know the Joint Administrators’ letter will be worrying for Hartley clients who have received this communication. We also recognise that the length of time the administration process is taking is causing distress to customers. We are working with the Joint Administrators to ensure the process is carried out as quickly and efficiently as possible.
If you did not receive the above-mentioned communication, then, the FCA understands, your account was not impacted by the ongoing civil litigation and will continue to progress in line with the Joint Administrators’ timeline as set out on their website.[1]
In terms of wider context, Hartley clients have begun to be transferred out and we expect the number of transfers to continue over the coming months.
On 29 July 2022 the directors of Hartley Pensions placed it into administration at the request of the FCA, and appointed Peter Kubik and Brian Johnson of UHY Hacker Young LLP as joint administrators.
This article sets out the steps Hartley Pensions’ clients should take.
If you’re a client of Hartley Pensions, the joint administrators should have written to you. If you have not received a letter from the joint administrators, you should contact them using the details below.
Notes to editors:
- The FCA’s website[4] continues to provide updated information for Hartley’s clients on the insolvency and sets out steps Hartley’s clients should take. This includes links to information provided by the Joint Administrators[10] and the Financial Services Compensation Scheme[2] (FSCS).
- Details of the FCA’s requirement of Hartley can be found here.
- The FCA’s policy on announcing investigations is set out in Chapter 6 of the Enforcement Guide[3].