Recommendation 5

In the course of preparing for this hearing, we discovered that TPR’s practice has been to publish only a “summary” of its board members’ declared interests—not including interests arising from connected parties, such as family members. We welcome the rapid review of the Code of Conduct and related rules and guidance that has been commissioned by Mrs Smart, and her own request that details of her spouse’s role be published immediately. We are, however, concerned that her spouse’s role at British Airways Pensions has not been recorded on TPR’s public register of interests at any point during her time on the Board, and nor have the interests of any other Board members’ close family members. We agree with Mrs Smart that any member of the public who views the register should be able to develop a reasonable understanding of any potential conflicts, something which is not possible from the current contents of the register. TPR should rectify this as a matter of urgency. Following the next Board meeting, it should update the Committee on its response to the recommendations of the review of its Code of Conduct, and on how and when it intends to implement them. (Paragraph 24) The appointment of Sarah Smart as Chair of the Pensions Regulator 11