Pension scheme cold caller fined £130,000 by UK data watchdog Britain’s data watchdog says it has snared Swansea-based business CPS Advisory for making more than 100,000 “unauthorised direct marketing calls” to people about their pensions, and subsequently fined the company £130,000. Under a change to the Private and Electronics Communications Regulation (PECR) in 2019, a firm can only …
The ICO can also apply for an administrator to be assigned to take over the company, prior to it going into liquidation, once this happens, the directors are forbidden from involvement in any other company until the outcome, which usually results in the directors being banned from running a company for xxx years.
Where the ICO went wrong in the first year, was that they fined companies, and then did nothing until the company either paid or went bust. Now they intervene before that happens.
It's all very well voting down my "it's a con" post and saying they could fine the directors and they could ban the directors... but the ICO didn't. They only fined the limited company. This despite one of the directors being done for something similar before.
ICOs report here:
https://ico.org.uk/media/action-weve-taken/mpns/2618232/cps-advisory-limited-mpn.pdf
And you are getting ahead of the process. Your post above is akin to reading in the paper that a local miscreant has been arrested, charged and scheduled to appear before a judge. You then complain that he could have been fined or he could have been sent down for life. However this is the first stage of the process, just as has happened with the ICO. The ICO has issued the fine, which is the first step in the process, if the company fails to pay by the date, I believe which is end of Oct 2020, then the ICO will take the next step in the process. A company cannot simply go bust immediately, there is a minimum time period which is at least 3 months if you have planned it ahead, or longer if you decided to do it today, but such steps are what the ICO are now monitoring, and intervene well before that going bust process can complete.
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if the company could have been guilty of 'obtaining a money transfer by deception'. That is a serious offence in the UK Under the Theft (Amendment) Act 1996, publishable by an unlimited fine and a prison sentence not exceeding 10 years on first offence.
https://www.legislation.gov.uk/ukpga/1996/62/contents
Of course, as I am currently trying to figure out (no pun intended) how to invest my pension and so as to provide for myself in my later years, I am somewhat biassed against thieving b%^&*(rd pension scammers who ought to be %^&* (*%%(*^ and %^&*()ed, IMHO.
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