UK Regulator Warns Small Pension Plans Of Tough Action

Law360, London (September 8, 2017, 5:44 PM BST) — The U.K. Pensions Regulator has accused smaller pension schemes of providing poor internal governance and failing to meet legal standards, and warned of tougher action against trustees who fall short.

The regulator said on Thursday that small and mid-sized schemes are focusing less on ensuring effective internal controls, as it released the findings of two surveys gauging the schemes’ performance.

“While some trustees are doing a good job, many trustee boards have failed to act on our codes and guidance to meet basic standards of good…

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