The study, carried out by new-business broker Alchemis, follows an earlier study this month by online list manager Marketingfile.com, which found that 69% of businesses were against the legislation and 23% chose to ignore it.
Alchemis' research has found that the UK's top marketing, PR, design and media agencies have failed to act on the legislation.
However, whereas Marketing file.com disagrees with the legislation branding it "the latest example of red-tape madness", Alchemis sees the new legislation as presenting an opportunity for reputable businesses to demonstrate excellence.
The study found that only 30% of agency directors knew what the TPS was, with 70% admitting that they had never heard about the new law. Of those familiar with the new legislation, none of them felt that it affected them.
Media agencies and design agencies were the least informed with 90% and 80% respectively unaware of the law. Direct marketing agencies were more clued up, with 60% aware of the law, but only one of those had registered.
Alchemis' chief executive, Ian Forbes, said: "Some agencies say their leads come from networking and strategic research. But cold approaches remain a core practice in many agencies. If communications firms do not take heed of the new law, they could be in for a bit of a shock."
Anyone calling a business needs to ensure that they are not registered with TPS, otherwise they can be fined over £5,000. A list of registered names can be purchased from the Direct Marketing Association.
According to the latest figures from the DMA, the Corporate TPS generated 20,000 registrations.
Data firms Experian, D&B and Wegner have also launched a joint campaign to raise awareness of the newly introduced Corporate TPS to UK businesses, who they believe may be unaware and could be at risk from fines.
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