TPR fines first master trusts for chair's statement failures

Michael Klimes
clock • 2 min read

The Pensions Regulator (TPR) has reaffirmed its determination to ensure trustees demonstrate good governance by fining four master trust schemes for not completing a chair's statement.

In the first fine of its kind, the professional trustee of Nurture Master Trust, MC Trustees was told to pay the maximum fine of £2,000 as there were no mitigating factors in the case. The firm ...

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