OFCOM have laid the above Order before Parliament (on 24th Oct 2024) to enable the formal passing of regulatory responsibility from the UK Phone-paid Service Authority, (current regulator of premium rate telephony services) to OFCOM. The Order will become effective on 1st February 2025. Service providers throughout the supply chain need to undertake certain activities in order to bring their services and business practices into line with the new requirements. Such activities may include:
- compliance audit of existing client services and updating the required registration details;
- contractual revisions and pre-contract due diligence;
- draft written policy and procedures regarding ongoing due diligence and risk assessment and management;
- establishment and maintenance of records.
If your company or your clients need support implementing the necessary regulatory requirements precipitated by the Order please contact Strategic Brief.