MPs Reject Pensions Bill Amendment Over Criminal Charges

Law360, London (November 3, 2020, 3:30 PM GMT) -- Lawmakers refused on Tuesday to budge on wording in forthcoming pensions legislation that an industry group said would "unintentionally criminalize" a range of ordinary business activities.

MPs voted in a detailed reading of the Pension Schemes Bill in the House of Commons against an amendment that would narrow down who could be hit with criminal charges if a company retirement plan hits the rocks. The bill is at the committee stage, the mid-point of its passage through Parliament, which is followed by the report stage and third reading in the lower house. 

The bill includes sweeping changes for the pensions industry,...

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