UK’s TPR issues FSD on Lehman Brothers
The Pension Regulator takes a tough line with Lehman Brother creditors over UK pension fund deficit
The UK’s Pensions Regulator (TPR) has issued its third financial support direction (FSD) against six of the subsidiaries of insolvent US investment bank Lehman Brothers to make up a shortfall on its UK pension scheme.
TPR issued the FSD following a hearing on 8–9 September, that members of the Lehman Brothers group should have to provide financial support to the UK pension scheme. Those facing the FSD include both the key operating companies within the UK, as well as the US parent company
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