Partner Rosalind Connor comments in the FT on how the Pensions Regulator will exercise its new powers
Business rescues may be hampered, or even scuppered, because of uncertainty among professional advisers over how the Pensions Regulator will exercise sweeping new powers, experts have warned.
Rosalind Connor commented:
“A very wide range of perfectly normal (corporate) activity might be caught by the new offences. It isn’t possible in advance to be able to work out what actions or events might fall foul of it.”
“If you are a lender, investor or even a landlord or supplier, and you run the risk by simply engaging with a business with a defined benefit pension scheme of being caught in the criminal justice system and going to trial by jury, a lot of people simply won’t want to take that risk, however remote.”
“Inevitably means that employers with defined benefit pensions will find there are fewer people to do business with, or help them in a rescue.”
Read Rosalind’s comments in the Financial Times.
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