Government slams slow response and inaction of UKGC in Football Index fiasco
Malcolm Sheehan QC publishes damning 193-page review into gambling regulator with further recommendations for the FCA
suspension of parent company BetIndex’s operating licencehere
- BetIndex did not properly notify the UKGC of the nature of its operating model or of various important product changes after launch as it was required to do so
- The UKGC should have responded to the challenges posed by regulating a novel gambling product with earlier scrutiny, quicker decision making and better escalation of issues
- While Football Index was never regulated by the Financial Conduct Authority (FCA), areas of improvement for the FCA have been identified in regard to speed of response to requests from the UKGC and the consistency of its messaging over regulatory responsibilities