Which of the following is NOT a consequence of failing to comply with privacy notice requirements?

In the context of privacy notice requirements, an increase in trust from customers would not be a consequence of failing to comply. In fact, failure to provide adequate privacy notices typically leads to a decline in customer trust. Customers expect transparency regarding how their personal information is handled, and when a company does not meet these expectations, it can result in skepticism and concern about the company's practices.

Non-compliance with privacy notice requirements can lead to serious repercussions such as regulatory actions against the licensee, penalties imposed by regulatory bodies, and even the loss of the license to operate. These actions are responses to the violation of legal obligations designed to protect consumer privacy and ensure responsible data handling practices. Therefore, the correct answer highlights that an increase in customer trust is not a viable outcome of failing to adhere to these important requirements.