GPG gets warning notices from UK Pensions Regulator, mulls implications

Sun, 22 Dec 2013

Dec. 23 (BusinessDesk) - Guinness Peat Group, which has exited more than 50 investments to focus on UK threadmaker Coats, said the UK’s Pensions Regulator has issued warning notices over its pension plans. The regulator has found the Brunel Holdings Pension Scheme and the Staveley Scheme were insufficiently resourced and the warning notices say a ‘financial support direction’ (FSD) may be reasonable. “The board is reviewing the warning notices with its advisers,” GPG said in a statement. “It is too early to be certain that any FSDs will ulti...

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