Pensions Cold-Callers To Face £500K Fines Within Weeks
Law360, London (December 19, 2018, 9:16 PM GMT) -- The U.K. government’s long-awaited ban on pensions cold-calling will go into force after repeated delays in January, the Treasury confirmed Wednesday, as the regulatory net tightens around scammers who seek to trick savers out of millions of pounds.
The ban, which outlaws unsolicited phone calls about pensions but not texts or emails, will go live from Jan. 9, a spokesman for the Treasury told Law360. Callers who breach the rules could risk a fine of up to £500,000 ($631,094) from the Information Commissioner’s Office, the U.K.’s data regulator.
“Pensions cold-calling is a scourge, so I was pleased and proud to see...
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