Regulation Hub Update - January 2021
22 Jan 2021
The big news from the ICO this month is that a Memorandum of Understanding has been signed with the Philippines’ National Privacy Commission.
No, not really.
However, as the DMA was quick to explain, the last minute, pre-Christmas trade deal with the EU didn’t include an EU ‘adequacy’ ruling for the UK’s data protection regime. As you probably well know, an adequacy ruling is very important to UK business and contact centres. The 4 to 6 month extension to the current free movement of personal data is very welcome, but there’s still no knowing whether adequacy will be granted at the end it.
Revised Vulnerable Customer Guidance On Its Way
Financial services firms are expecting finalised guidance from the FCA in Q1 of this year on the treatment of vulnerable customers (which we mentioned in last August’s Update). The guidance will be eagerly anticipated with companies already having implemented various degrees of policies and frameworks to be ahead of the final publication.
Business Interruption Insurance Appeal
The FCA’s case taken on behalf of business interruption insurance policy holders – which we covered in the October Update – has gone to the Supreme Court and been largely upheld. This is good news for policyholders, except possibly when they see how much their renewal premiums increase.
Repossessions Moratorium Continued
The FCA’s latest proposed guidance around mortgage and consumer credit repossessions states that in light of the ongoing pandemic repossession proceedings should only be undertaken as a last resort.
Ofcom has issued guidance to help protect consumers from coronavirus scam texts and phone calls.
TCS Combined Solutions, which ran a premium rate subscription service called DiscountMeDirect, has been found to have operated unfairly. The PSA has fined TCS £885,000 and banned the company from the market for three years. It also ordered TCS to refund all customers who claim a refund.
Content accurate as of 19th January 2021