A power control system comprises a plurality of power control groups, with each group comprising a plurality of individual point-of-load regulators each adapted to provide respective regulated voltage outputs. The point-of-load regulators may be selected for inclusion in a power control groups based on characteristics of loads supplied by the point-of-load regulators. An intermediate bus controller is coupled to each of said power control groups through a serial data bus interface common to each group and an OK status line for each respective group. A front end regulator provides an intermediate bus voltage to each of the plurality of power control groups and to the intermediate bus controller. The plurality of point-of-load regulators of each group each further comprises a respective fault manager adapted to detect fault conditions and selectively communicate notifications of the fault conditions to other ones of the plurality of point-of-load regulators of the group and to the intermediate bus controller. This way, a common response to the fault conditions is taken by the point-of-load regulators of the group and other groups. A method for managing faults in the power control system is also disclosed.