This article is just an example of the content available to mallowstreet members.
On average over 150 pieces of new content are published from across the industry per month on mallowstreet. Members get access to the latest developments, industry views and a range of in-depth research.
All the content on mallowstreet is accredited for CPD by the PMI and is available to trustees for free.
David Fairs, executive director of regulatory policy, analysis and advice, introduced the response at the Association of Member Nominated Trustees winter conference on Monday.
He said the regulator had received a record number of responses and, given these, decided not to demand qualifications or CPD for trustees.
Instead, he said there remain a range of acceptable methods to demonstrate knowledge and understanding, including TPR's trustee toolkit, relevant work experience or other industry-based training, which should be at least 15 hours a year for lay trustees and 25 hours a year for professional trustees.
TKU requirements will be differentiated both by type of trustee role and type of scheme.
The planned single code - consolidating the current 15 codes into one - "will form the foundation for the review and revision of TKU content, which we hope to consult on in the early part of 2021", said Fairs, and will include ESG and climate change.
Fairs said while the regulator is not pushing for new rules around professionals and sole trustees, the latter was an area where he had concerns, and "we will continue to monitor standards closely to ensure our expectations for scheme governance are met, and that the right action is taken where schemes do not improve”.
While this was not part of the consultation, many lay trustees told the regulator in their response that their employers do not give them enough time to perform their trustee duties, which they have to do in their own time instead.
Fairs said as a result, TPR will start a campaign with the aim of "reminding employers of their duties in law".
Are you satisfied with the regulator's response on trusteeship?
Download the full response below.