Finally Some Regulation
The British political elite has vested extreme powers in regulatory functions ascribed to specialized authorities which observe and investigate the business behaviour of telecoms, banking industries and other business-related activities. However, what the political elite has failed to foresee is the fact that granting powers is not as good as having a distinguished investigatory body that would deliver results to an independent authority. Nevertheless, a good result has been produced in relation to a problem related to the UK Telecoms.
TalkTalk, one of UK’s largest telecom service providers has been fined by Ofcom, the telecom regulator in the country, for billing people for services they have not received. The number of people is shocking - almost 65,000 people have paid more than they have used simply because of a negligent mistake by the operator. Furthermore, the investigation by the authority has revealed irregularities in the complaint handling services - it was way too stretching and time consuming thus discouraging people from seeking their rights. The fine imposed on TalkTalk is 3 million UK pounds - becoming one of the largest fines ever imposed on a telecom in the UK and Europe as a whole. The company can now seek some unsecured business loans to pay the state and finally meet its liabilities for overbilling people for no service delivered.
The finding of the Ofcom authority, however, indicates poor regulation. If this was allowed to occur somehow it is a sign that the regulatory functions of the body are ignored by Telecom companies to an extent - political leaders would now have the option to remedy the situation by imposing stricter regime for telecom companies. Definitely, a good way would be establishing an investigatory body to look into the industry.
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