Charity pension scheme trustee convicted and fined

Written by Natalie Tuck
06/04/2017

The Pensions Regulator has secured the conviction of a charity pension fund trustee, who has been fined £6,500.

Patrick McLarry, the chief executive of Hampshire-based Yateley Industries for the Disabled Limited, was convicted for withholding information from the regulator’s investigation into unusual pension scheme investments.

McLarry, a former trustee of the charity’s pension fund, was issued with an information notice for the documents in July 2015. He refused to supply them, the regulator said, and claimed doing so would breach French privacy law because the documents contained third party information.

The bank statements requested were from a French account in McLarry and his wife's names. McLarry said the statements were protected by legal privilege, and subsequently claimed he was refusing to provide them because they might incriminate him.

The Pensions Regulator concluded failure to release the documents merited pursuing a criminal prosecution.

McLarry pleaded not guilty but was convicted at Brighton Magistrates’ Court on 5 April. District Judge Christopher James ordered him to pay a £2,500 fine, £4,000 costs, and a £120 victim surcharge.

The Pensions Regulator’s executive director for frontline regulation Nicola Parish said McLarry refused to co-operate with the investigation and his excuses were rejected by the court.

“This was a clear case of him deliberately refusing to comply with the law,” Parish said. “Legal action could have been avoided if Mr McLarry had simply complied with the legal notice. This is another example of how we will use our powers to take action against individuals who hamper our investigations into the management of pension schemes. Refusing to comply with a legal request from The Pensions Regulator will not be tolerated.”

Article reproduced with permission from PensionsAge



Related Articles


  • Charity Times Awards Event Date: 2nd October 2019 Event Deadline: Park Plaza, Westminster Bridge, London For booking and enquiries email linda.libetta@charitytimes.com
  • Charity Times Pensions Roundtable Event Date: 10th October 2019 Event Deadline: Barnett Waddingham, 2 London Wall Place, London For booking and enquiries email linda.libetta@charitytimes.com
  • Investors Forum – Climate Change Event Date: 22nd October 2019 Event Deadline: 1 Birdcage Walk Westminster, London SW1H 9JJ For booking and enquiries email linda.libetta@charitytimes.com
  • Charity Times Annual Conference Event Date: 6th May 2020 Event Deadline: The Waldorf Hilton, London
  • Property Roundtable Event Date: 2020 TBC Event Deadline: Searcy’s at the Gherkin For booking and enquiries email linda.libetta@charitytimes.com
  • Better Society Awards Event Date: 23rd May 2019 Event Deadline: 25th January 2019 London Marriott Hotel, Grosvenor Square, London
Most read stories...