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UK pensions regulator warns of fines if ESG requirements aren’t met

( February 22, 2023, 11:52 GMT | Official Statement) -- MLex Summary: The UK’s pensions regulator has warned that it can fine corporate trustees of pensions up to 50,000 pounds (around $60,000) if they fail to publish details of their financially material environmental, social and governance and climate factors. The Pensions Regulator will launch a regulatory campaign in the spring, writing to defined benefit, defined contribution and hybrid schemes to remind them that it is analyzing scheme data to monitor compliance. “Trustees who fail to comply risk us taking enforcement action against them and I expect to see an improvement in compliance levels,” said Nicola Parish, TPR's executive director of frontline regulation.Statement below....

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