The Government has confirmed that it will introduce a ban on pensions cold calling, following a consultation on draft regulations.
The Government has confirmed that it will introduce a ban on pensions cold calling. The necessary power to introduce the ban has been included in section 21 of the Financial Guidance and Claims Act 2018. Subject to Parliamentary timetabling, the Government aims to bring the regulations into force in Autumn 2018. When the ban comes into effect it will be accompanied by a marketing campaign to inform the public that pensions cold calling is illegal.
In July 2018 the Government consulted on draft regulations setting out the detail of the cold calling ban. The consultation ended on 17 August. It set out the policy objectives behind the draft regulations, the business activities that would be considered as cold calling and the ways that this would be regulated. The draft regulations only deal with live, unsolicited, direct marketing telephone calls because restrictions on unsolicited direct marketing via electronic mail already exist under the Privacy and Electronic Communications (EC Directive) Regulations 2003 (PECR).
The Information Commissioner’s Office (ICO) will be the enforcement body. The Government does not intend to impose criminal sanctions on those in breach of the ban on cold calling; instead the ICO will use the sanctions already in place under the PECR, which include fines of up to £500,000.
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