Addressing businesses in difficulty and points for DB trustees, TPR published guidance. for trustees on sponsors in distress yesterday. Of particular note, we think, are TPR’s highlighting of (i) the importance of a robust “integrated risk management system” for identifying warning signs of distress and (ii) “key events” which, depending on sector / operations of the sponsor, should act as a prompt to trustees (rapid fall in sponsor’s share price, disposal of business division and others).
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