New TPR report on criminal prosecution of trustee
The Pensions Regulator (TPR) has published a regulatory report on its prosecution of a corporate trustee director for defrauding a pension scheme. The individual was the chief executive and chairman of a charity, and a director of the corporate trustee of the charity’s pension scheme. TPR also investigated the wife of the chief executive and another director of the corporate trustee (who was the chair of the board of trustees), but ultimately decided it was not in the public interest to pursue prosecutions of those individuals.
TPR’s investigation was triggered by a whistleblower report from a scheme adviser; TPR used a range of its existing powers in investigating and prosecuting this case. Under the Pension Schemes Act 2021, TPR will be given new information-gathering and investigatory powers, and significant new criminal offences will be created. TPR is expected to consult on guidance on the new offences, before the provision
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