The news was broken on 27 January 2012 that the Pensions Regulator’s Determinations Panel had decided to issue a financial support direction (“FSD”) to five companies in the ITV Group, including ITV plc, requiring them to provide financial support to the Box Clever pension scheme. As the Pensions Regulator has exercised its powers, including the FSD, fairly sparingly since it was established in 2005, this is a significant development and potentially relevant news to many corporate sponsors and trustees.
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