The Pensions and Lifetime Savings Association (PLSA) comments on the Pensions Regulator’s (TPR) consultation Approach to the investigation and prosecution of the new criminal offences.
Nigel Peaple, Director of Policy & Advocacy, PLSA, said: “While the PLSA is supportive of the underlying objectives of the criminal sanctions regime we believe that the current wording of the policy intent is still too vague and will create very problematic consequences for the pensions community.
“We continue to be concerned that these criminal offences powers will not enable TPR to take timely and meaningful action but will impede normal corporate behaviours and transactions. We are calling on TPR to review and adopt some or all of the principles used by the FCA in their approach to prosecution of criminal cases.
“In particular, we ask that TPR considers adopting the FCA principles related to the seriousness of misconduct, the extent and nature of the loss suffered, the extent to which redress has been provided, the element of cooperation, the degree of dishonesty or abuse of position of authority, and that account be taken of the personal circumstances of the prosecuted party.”
Mark Smith, Senior PR Manager
020 7601 1726 | [email protected]k
Steven Kennedy, PR Manager
020 7601 1737 | 07713 073024 | [email protected]