As announced in May 2023, the Government will extend the pensions cold calling ban to cover cold calling for all consumer financial services and products. Please see our earlier Bulletin.
It has now published a consultation paper seeking views on the design and scope of the ban on cold calling for consumer financial services and products, including a call for evidence on the impacts of the proposed ban. This consultation closes at 9:30am on 27 September 2023.
Under the Financial Guidance and Claims Act 2018, cold calls are already banned from personal injury firms and pension providers (unless the consumer has explicitly agreed to be contacted).
Cold calling is defined by the Government as involving individuals or organisations making unsolicited calls to consumers to market a service or product. In some cases, these calls are made by direct marketing companies in breach of relevant privacy regulations, but in other cases the products and services being marketed do not exist and the call is fraudulent.
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