The Pensions Regulator

Code of practice 01
Reporting breaches of the law

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Failure to report

69. Failure to comply with the obligation imposed by the requirement to report breaches of the law without 'reasonable excuse' is a civil offence. To decide whether the reporter has a reasonable excuse for not reporting as required, or for reporting a breach later than the regulator would have expected, the regulator will look at:
70. • the legislation, case law, this code of practice and any guidance issued by the Pensions Regulator;
    • the role of the reporter in relation to the scheme;
    • the training provided to the individual or staff, and the level of knowledge it would be reasonable to expect that individual or those staff to have;
    • the procedures put in place to identify and evaluate breaches and whether these procedures had been followed;
    • the seriousness of the breach and therefore how important it was to report this to the Pensions Regulator without delay;
    • any reasons for the delay in reporting;
    • any other relevant considerations relating to the case in question.
71. If the Pensions Regulator is considering imposing a civil penalty, or exercising one of its functions, directly affected parties will receive a warning notice identifying the alleged breach and specifying the relevant function. Further details can be found in the regulator's guidance on determination procedures.
72. The Pensions Regulator may, in addition, where it considers it appropriate to do so, make a complaint to the reporter's professional or other governing body.

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