PensionsOct 4 2019

Business raided over pensions cold-calling

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Business raided over pensions cold-calling

The Information Commissioner’s Office has searched a business's premises in Chichester as part of an investigation into pensions cold-calling.

The warrant, executed yesterday (October 3) in the centre of the city, saw computer equipment and documents seized for analysis. The ICO’s investigation into the matter is ongoing, it stated.

A ban on cold-calling in relation to pensions, which includes emails and texts, was introduced on January 9, 2019.

The ban is enforced by the ICO, which received new powers to fine bosses of companies which plague people with unsolicited cold-calls as much as £500,000.

David Clancy, ICO enforcement group manager, noted that the “law now offers greater protection for people troubled by cold calls about their hard-earned pensions”.

He added: “This includes a ban on certain types of calls being made in relation to pensions.

“Today’s search and our investigation should serve as a warning to business owners that they must follow the law.”

The new rules on who can make a live marketing call in relation to pension schemes state that calls can only be made by a person or firm authorised by the Financial Conduct Authority, by the trustees or managers of a pension scheme of which the person being called is a member, or if the person being called had previously consented to such communications.

FTAdviser reported in July that the ICO closed more than half of its investigations into potential breaches of the pensions cold-calling ban, but has not made any fines or arrests.

As of June 28, the ICO had opened 29 investigation into potential breaches of the ban, of which at least 15 have since been closed.

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