Rightly or wrongly, limited companies in the UK provide a high degree of protection for wrongdoing. Defrauding HMRC out of hundreds of thousands of pounds and suffering no consequence is happening day in day out. An Ofcom fine is nothing by comparison.
2. Doesn't the fact that simple legal manoeuvring can be used to dodge 99% of this law make the law (and laws like it) farcical on its face? Merely an elaborate set of extra hoops that only serves to punish the naive, while increasing everyone's compliance costs?
Does the UK have a similar concept?
It may turn out that it is too much work to comply and so you might still need to shut down, but with the LLC you've got a lot more leeway to try without personal risk.