Intellectual property rights solicitors ACS:Law could be fined up to £500,000 for leaking the personal data of thousands of Sky broadband customers.
The 5,300 people on the list, which was published online following an attack on the ACS website, have allegedly been illegally sharing pornography online.
Information Commissioner Christopher Graham told BBC News: "The question we will be asking is how secure was this information and how it was so easily accessed from outside."
"We'll be asking about the adequacy of encryption, the firewall, the training of staff and why that information was so public facing.
"The Information Commissioner has significant power to take action and I can levy fine of up to half a million pounds on companies that flout the [Data Protection Act]."
The list appeared online after members of notorious message-board 4chan attacked the ACS website in retaliation for its anti-piracy work.
According to the BBC, ACS Law is currently being investigated by the Solicitors Regulation Authority for sending letters to alleged pirates.
Earlier this year, several members of the House of Lords slammed law firms that send letters to suspected copyright infringers demanding payments with the threat of legal action. The Peers labelled the practice “legal blackmail” and accused the law firms of “harassment, bullying and intrusion”.
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