Pensions Regulator publishes response to its consultation

The Pensions Regulator has published its response to its consultation on its policy for imposing monetary penalties under pensions legislation and the definition of "professional trustee" which the Regulator will apply for the purposes of deciding when a trustee should be held to higher standards by reason of being a professional trustee. The Regulator's key test for determining whether a trustee should be classed as a professional trustee is whether the person is acting in the course of the business of being a trustee.