The Hearing Clinic is the first company to face a such a penalty by the watchdogs after new powers were introduced in 2014.
Hundreds of complaints from members of the public who recieved peculative calls about claims for noise-induced hearing loss prompted the penalty.
Many of those who were contacted had subscribed to the Telephone Preference Service (TPS) – indicating they did not wish to receive unsolicited sales or marketing calls.
The fine is the first to be issued by the Claims Management Regulator (CMR) since it was given the power to impose such sanctions under Government reforms introduced in December.
Firms found breaching the regulator’s rules of conduct now face fines of up to 20% of their annual turnover, as well as having their trading licence suspended or removed.
The Hearing Clinic, which is based in Derby and operated under a string of different trading names, has also been made subject to restrictions.
The company could face further sanctions including suspension or closure if it breaks the rules again.
Claims Management Regulation head Kevin Rousell said: “The new fines mean we have greater powers to crack down on claims management companies that make nuisance calls.
“Companies should be in no doubt that if they break the rules then we won’t hesitate to fine them in addition to the tough action we already take.”