- Alfie Baron
The regulator was seeking to "redress" for BHS's 20,000 pension scheme members after the collapse of BHS.
Sir Phillip Green has apparently been sent 300 pages of warning notices. It is thought that he could be ordered to pay towards the pension deficit.
Last month Sir Philip said he was in "very strong dialogue" with the regulator about the pensions deficit. Sir Philip has not suggested a figure that he would be prepared to pay.
Lesley Titcomb, chief executive of the Pensions Regulator, said: "We have been clear in our public commitment to make significant progress by the end of 2016 and the issue of these notices meets that commitment.
"Our decision to launch enforcement action is an important milestone in our work to attain redress for the thousands of members of BHS schemes who have been placed in this position through no fault of their own."
Frank Field, who co-chaired a parliamentary inquiry into the collapse of BHS said: "We are not surprised that the Pensions Regulator has, like all the rest of us, lost patience with Sir Philip Green's excuses and empty promises."