The lessons from the British Steel Pension Scheme debacle will reverberate for a long time but I wonder if the recent criticism of the regulators is just another knee-jerk response to a financial mess which could well be repeated.

A new report into the BSPS debacle has heavily criticised regulators including the FCA and TPR.

Since 2015, the Insolvency Service has applied to the courts to wind-up 24 companies that have carried out a form of pension misuse.

An accounts manager lied to investigators to try to hide the fact that restaurants had not given their staff workplace pensions.