Guest comment: A fair and transparent regulator

Written by The Pensions Regulator executive director of frontline regulation Nicola Parish
03/10/18

Our latest Compliance and Enforcement Bulletin highlights how we have been using our powers more.

The volume of our regular enforcement work has increased dramatically again in recent months – last quarter we enforced 44,053 times against pension schemes and employers.

Two recent cases that ended in the courts are high-profile examples of how we’re using our powers.

Primadell company accountant Hashmukh Shah admitted providing false or misleading information to The Pensions Regulator when he falsely claimed that the company had met its workplace pension duties.

Samuel Smith Brewery and company chairman Humphrey Smith were also recently summonsed to court for refusing to provide information to TPR about company finances. The company and the chairman pleaded guilty and were ordered to pay a total of £28,000 in fines and costs.

These cases and the growing figures highlight that we are delivering on our commitment to be clearer, quicker and tougher by enforcing more.

In using our powers there will be occasions when we have to review the decisions that we have made on cases. That is part of being a fair and transparent regulator, which is open to review and revocation.

We continue to expect high standards of trustees and employers and will take enforcement action where the standards outlined in legislation are not being met.

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