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TPR appoints new executive director for front-line regulation
Nicola Parish has been appointed as executive director for front-line regulation at the Pensions Regulator
Nicola Parish has been appointed as executive director for front-line regulation at the Pensions Regulator.
Parish has worked at TPR for eight years, most recently as director of case management and prior to that as director of legal services and enterprise risk management.
She began her career in the City as a litigation lawyer for Denton Hall. In 1996 she joined the Securities and Futures Authority as a senior prosecutions lawyer, and later worked in the Enforcement Division of the Financial Services Authority (FCA) for eight years before joining TPR in 2008.
Commenting on the appointment Mark Boyle, TPR’s chair, said: “She will be leading a number of teams that see at close quarters the challenges facing the pensions sector. Nicola has a wealth of legal, investigative and regulatory experience, which stands her in good stead, and I look forward to working closely with her on TPR’s board.”
As executive director Parish will be responsible for the education and enablement activities of TPR’s Customer Support and Regulatory Transactions teams, risk identification and escalation by Intelligence, and the enforcement interventions of TPR’s Case Management team.
She will also be responsible for the delivery by TPR of the new approach to the regulation of mastertrusts. This is something that the industry is keenly awaiting from the new Pensions Bill in the Autumn. The current voluntary assurance framework to help govern standards is not proving sufficient, so the new powers given to TPR will allow them to solve governance challenges of existing mastertrusts and take action where necessary.
Parish said: “I relish the challenge of bringing together our front-line regulatory teams, enabling TPR to use its collective resources as effectively as possible to respond to the emerging risks in the pensions sector. Having worked in regulation for 20 years, I strongly believe in the role that TPR plays supporting pension trustees, sponsoring employers and retirement savers, and I can’t wait to get on with the job.”