The Pensions Regulator1 may issue a fixed penalty notice to a person if it considers that the person has failed to comply with a notice2 requiring the provision of information, so far as relevant to the exercise of any of the Regulator's functions relating to master trust schemes3.
A fixed penalty notice is a notice requiring the person to whom it is issued to pay a penalty within the period specified in the notice4. The penalty is to be determined in accordance with regulations made by the Secretary of State5, and must not exceed £50,0006.
The Regulator may issue an escalating
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