UK - Michael Calvert has been appointed to head up the pensions practice at international law firm Reed Smith.
Calvert, previously at Ashurst Morris Crisp, has experience in all aspects of transactional and non-transactional pensions issues, including mergers and acquisitions, management buy-outs, joint ventures and flotations, pension scheme set ups and litigation.
The appointment brings the number of lawyers in Reed Smith’s UK employment practice to eight.
Reed Smith’s managing partner in London Tim Foster said: “We are delighted that Michael has agreed to join us and his appointment enables us to offer an enhanced service to our clients.
Enhanced powers for The Pensions Regulator (TPR) to prosecute and fine company directors who "wilfully or recklessly" put their defined benefit (DB) pension scheme at risk will be hard to enforce, commentators say.
Melrose has pledged to contribute up to £1bn to GKN's pension schemes as part of a final offer to acquire the engineering business.
Existing master trusts will be forced to pay £41,000 when applying for authorisation under the upcoming regime, the government has confirmed.
UPDATE 2 - DWP publishes DB white paper: Stronger powers for TPR, DB chair statements to be introduced
The Pensions Regulator (TPR) will be given the power to fine company bosses who deliberately puts their defined benefit (DB) schemes at risk, the government has confirmed.