The pensions industry has been following, with interest, the Desmond case, also referred to in previous editions of Pensions Pieces, particularly because it was one of the first cases in which the Determinations Panel of the Pensions Regulator determined to issue contribution notices against certain individuals in relation to a pension scheme. The November 2013 and February 2014 editions of Pensions Pieces give an outline of the case and some of the detail of the issues considered over its eventful history, which includes the question of the timeframes relevant to the Regulator's ability to determine whether or not a contribution notice should be imposed. A hearing on the substantive issues of this case was pending. However, in May 2015, the Regulator issued a report under s89 of the Pensions Act 2004 confirming that it was agreed that Mr Desmond would make a payment (the amount of which was undisclosed) to the pension scheme, following which a settlement was reached whereby there were 'no admissions of liability, including without any findings being made in respect of allegations that the parties have acted otherwise than in good faith. As a result of the settlement, the allegations made by all parties in the proceedings, including those that the parties have acted otherwise than in good faith, are not maintained.' This statement, particularly the retraction of any allegations of bad faith, is presumably key for the individual targets involved for whom the proceedings had the potential to be very damaging to their personal reputations.