Comment: The regulator bares its teeth
The Pensions Regulator's decision to finally enforce its moral hazard powers - through a £5m contribution notice to the Bonas Group Pension Scheme - got me thinking about Daddy Longlegs. Apparently, the bumbling Longlegs has the most powerful venom in the animal kingdom. However, it cannot administer the venom because it has no fangs.
Similarly, the regulator has a vast array of enforcement powers which, until yesterday, it seemed unable or unwilling to use. Indeed, in a recent article in PP Sackers partner Robin Simmons questioned...
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