TPR fines first master trusts for chair's statement failures
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 did...
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