SFO investigating GP Noble

The government department confirmed to PP it had begun an investigation into the Nottinghamshire-based firm but could give no further details because of the ongoing inquiry.

Last week, Professional Pensions revealed the regulator had removed authority for 29 schemes from the independent trustee firm – an action later confirmed by the regulator (PP, August 14).

In a statement last week, the regulator said: "We can confirm that the Pensions Regulator decided that it was appropriate to suspend GP Noble, and replace them as independent trustee, from a number of schemes.

"This was due to their actions in relation to certain schemes giving cause for concern."

It added: "We can confirm that members’ benefits are not at risk."

PP understands GP Noble’s clients were switched after the Pension Protection Fund raised concerns to the regulator.