The Pensions Regulator has banned Stuart James Garner, 54, the former owner of Norton Motorcycles, from acting as a pension trustee again after he was found guilty of using pension fund money to invest in his failing business.

After a review launched earlier this year the DWP has concluded that The Pensions Regulator is “broadly well-run and well-regarded” but has set out a series of recommendations to improve the regulator.

The Pensions Regulator (TPR) is to introduce new rules from 1 October which will compel defined contribution (DC) pension schemes to declare their policy on investing in illiquid investments.

The Pensions Regulator has amended its DB superfunds guidance three years after publishing its original guidance to update it based on changes in the last three years.