'Not foolproof' but a good start - Industry on govt cold-calling ban

Expected in Autumn Statement

Hannah Godfrey
clock • 4 min read

The financial services industry has reacted positively to the prospect of the government banning the cold-calling of pension savers, describing the idea as 'a good start'.

Chancellor Philip Hammond is expected to announce plans to crack down on cold-callers while giving providers more powers to block suspicious pension transfers in his first Autumn Statement on 23 November. Under current proposals, seen by the BBC, calls where a business has no existing relationship with someone will be forbidden, including those targeting people who inadvertently "opt in" to receiving third-party communications. Fines of up to £500,000 are expected to be introduced. Additionally, rules around small self-administered schemes (SASSs) are expected to be tightened - with a...

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