LNB News 12/12/2024
Document Information
Issue Date: 12 December 2024
Published Date: 12 December 2024
Jurisdiction(s): England, Northern Ireland, Scotland and Wales
The Phone-paid Services Authority (PSA) has announced its successful fulfilment of regulatory tasks for premium rate services (PRS) in the UK. The PSA has revealed plans to transfer regulatory responsibility to Ofcom in 2025, after which it will cease operations. The organisation highlighted its agile approach to regulation, including the introduction of Code 15 which shifted focus from enforcement to prevention. The PSA also reported significant success in regulating Information, Connection and Sign-posting Services, reducing consumer detriment by over 85%. This announcement marks the culmination of nearly four decades of specialist PRS regulation in the UK.
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