The Pensions Regulator will prosecute the director of a professional trustee firm for failing to provide adequate information regarding 16 different pension schemes.
Michael Woolley is both a director and shareholder in Southbank Capital Limited. The investigation concerns money and assets original from 16 pension scheme, for which PIM Trustees is the trustee. Woolley is also the sole director and a shareholder in this professional trustee firm.
Woolley is accused of failing to comply with a notice issued under section 72 of the Pensions Act 2004, which required the requested information and documents to be given to TPR by February this year.
He has been summonsed to appear at Brighton Magistrates’ Court on 13 November.
Earlier this year the TPR announced it was launching a new crackdown on employers flouting their AE duties.
TPR said it was using data to pinpoint specific employers who are failing to enrol staff into a pension scheme, or making incorrect pension contributions.
Those suspected of breaking the law have been targeted with short notice inspections.