TPR's professional trustee definition welcomed but penalty policy has 'sting in the tail'

James Phillips
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TPR's professional trustee definition welcomed but penalty policy has 'sting in the tail'

The industry has welcomed The Pensions Regulator's (TPR) revised definition of professional trustee, but has warned all trustees to be aware of the updated monetary penalty policy.

The regulator now defines a ‘professional trustee' as someone "who acts as a trustee in the course of the business of being a trustee", particularly where one represents or promotes themselves to a scheme...

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