When we spoke with Erica Carroll (director of enforcement at the Pensions Regulator) at our webinar just before the summer (Webinar: The Rise of the Pensions Regulator – an exploration of the new powers (burges-salmon.com)) she was clear that the Regulator was listening to the feedback it had received during the consultation on its enforcement and prosecution policies and was looking to provide greater transparency and predictability. It's good to see those words translate into action in the form of the various policies published this week. There's a lot to read (links at the bottom of this post!) but Erica's blog is a good, succinct, introduction to the approach that has been taken. The additional clarity in some areas and greater use of case studies are all likely to be helpful but, as ever, we'll have to see how practice develops.
Some "light reading" on civil and criminal enforcement:
- the consolidated enforcement policy (consolidation of codes/policies by tPR is a welcome theme at the moment) (Scheme management enforcement policy | The Pensions Regulator)
- an updated prosecution policy (Prosecution policy | The Pensions Regulator)
- its enforcement strategy (Enforcement strategy | The Pensions Regulator)
and, finally, for background - the consultation response (Enforcement and prosecution policies: consultation response | The Pensions Regulator)
So we are pleased to have published the final version of this policy with our updated prosecution policy and consultation response setting out the feedback we received and, where relevant, how we have adopted this.
https://blog.thepensionsregulator.gov.uk/2022/10/25/enforcement-strategy-policies-and-procedures/