 |
|
 |  |  |  |
A former owner of Norton Motorcycles is to be prosecuted for illegally investing money into the business from three pension schemes for which he was the sole trustee. |
Stuart James Garner, 52, of Park Lane, Castle Donnington, Derby, is accused of breaching Employer Related Investment (ERI) rules by investing more than five percent of assets from each scheme into his business, Norton Motorcycle Holdings Ltd. The alleged offences are in relation to three Defined Contribution schemes: Dominator 2012, Commando 2012 and Donnington MC which have a total of 227 scheme members. The investments, which were made in return for preference shares, were made between 2012 and 2013. As set out in Regulation 12(2) of the Occupational Pension Schemes (Investment) Regulations 2005, subject to certain exceptions, it is a criminal offence to invest more than five per cent of the current market value of scheme resources in ERIs.
Mr Garner has been summoned to appear at Derby Magistrates’ Court on 15 November charged with three separate ERI offences under section 40(5) of the Pensions Act 1995 – one in relation to each scheme. |
|
|
|
| Pricing actuary - part-qualified or q... | ||
| South East / hybrid 2-3 dpw office-based - Negotiable | ||
| Technical pricing and portfolio manag... | ||
| Remote / 1 dpm in the Paris office - Negotiable | ||
| Actuarial Pensions Analyst/Technician | ||
| Midlands / hybrid - Negotiable | ||
| Senior Consulting Actuary | ||
| Flex / hybrid 2 days p/w office-based - Negotiable | ||
| Specialty Pricing Expert - Cyber | ||
| London, 4dpw in the office - Negotiable | ||
| Take the lead in GI Reserving | ||
| London - Negotiable | ||
| Financial Risk Manager | ||
| South East / hybrid 3dpw in the office - Negotiable | ||
| Senior Consultant/Manager | ||
| London - £100,000 Per Annum | ||
| Portfolio Pricing Actuary – First Act... | ||
| London - £125,000 Per Annum | ||
| Divorce Actuary | ||
| Remote with option to go into the office if required - Negotiable | ||
| DB Pensions Actuary contract work ava... | ||
| Remote - Negotiable | ||
| Take the lead in GI Capital Modelling | ||
| London / hybrid 2 days p/w office-based - Negotiable | ||
| Pricing Actuary - Global Consultancy | ||
| London / hybrid 3 dpw office-based - Negotiable | ||
| Machine Learning Analyst | ||
| Remote with occasional days in the London office - Negotiable | ||
| CONTRACT: With-Profits Actuary | ||
| London/hybrid - Negotiable | ||
| Actuarial Associate Director - Life | ||
| London / hybrid 3 dpw office-based - Negotiable | ||
| Life Actuarial Trainee | ||
| South East / hybrid 3dpw office-based - Negotiable | ||
| Pensions Project Consultant | ||
| Any UK Office location / Hybrid working - Negotiable | ||
| Pensions Actuary - Fully Remote | ||
| Fully remote - Negotiable | ||
| From pensions to insurance - student ... | ||
| London / hybrid 2-3 dpw office-based - Negotiable | ||
Be the first to contribute to our definitive actuarial reference forum. Built by actuaries for actuaries.
Copyright © 2025 Actuarial Post. Created by Zero-One Design Ltd
