Tag Archives: BetIndex

Government review identifies ‘lessons to be learned’ regarding Football Index

The UK government has revealed the findings and conclusions of its investigation into the collapse of player exchange platform Football Index, making recommendations to the UK Gambling Commission (UKGC). First launched in April following the decline of Football Index after a number of users abandoned the site, leading to BetIndex entering administration, the Independent Review was led by Malcolm Sheehan …

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UKGC alters digital oversight following Football Index investigation

In response to an investigation into the collapse of BetIndex, the UK Gambling Commission (UKGC) has announced that it will make changes to its regulatory oversight of digital gambling products. The Independent Review highlighted a number of areas for improvement from both the UKGC and the Financial Conduct Authority (FCA). In response to the review’s recommendations, the UKGC has introduced …

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Football Index allows customers to withdraw account funds

The website for football player exchange platform Football Index has gone back online after months of inactivity, allowing the operator’s customers to withdraw previously inaccessible funds. BetIndex, Football Index’s parent company, had been involved in extensive deliberations with both its administrators Begbies Traynor and the High Court of England and Wales regarding the final date for the payout of dividends …

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UKGC issues update on BetIndex administration as investigation continues

The UK Gambling Commission (UKGC) has released an update on the situation regarding BetIndex, the parent company of football trading exchange Football Index, which remains in administration. Explaining its stance, the regulator stated that it is the responsibility of BetIndex administrators and the courts to resolve the return of funds to customers affected by the collapse of Football Index. The …

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DCMS appoints Sheehan QC to lead regulatory review of Football Index

DCMS has confirmed that Malcolm Sheehan QC will lead its independent review into the collapse of BetIndex, the operating company of failed football trading platform Football Index.  Sheehan will conduct a review of the regulatory failings concerning Football Index’s collapse, which will be reported back to the government in its ongoing review of the 2005 Gambling Act. The review will …

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Football Index £4.5m claims hearing taken to High Court

The High Court of Justice for England and Wales has taken on the hearing regarding the distribution of over £4.5 million in funds to former customers of Football Index. Begbies Traynor, the insolvency practitioners for Football Index parent company BetIndex, initially began to process claims against the company in April, one month after the operators collapse.  After the firm initiated …

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Begbies Traynor initiates BetIndex customer hearings

Begbies Traynor, the insolvency practitioners for BetIndex, initiated the process of allocating funds to former Football Index customers at a hearing in the Royal Court of Jersey today. The company was initially appointed as BetIndex’s insolvency practitioner in late March following the initial collapse of Football Index and began processing customer claims against the company in April. In a statement …

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Football Index addresses investors on losses distribution

Football Index has released a statement addressing the distribution of lost finances to its customers, two months after the operator entered administration. Begbies Traynor, the insolvency practitioner of Football Index’s parent company BetIndex, initially began to process customer claims against the company in April. The claims process was available to all users of the football player trading platform, including those …

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UKGC under assessment in government Football Index review

The UK government has announced an official independent review into the collapse of Football Index, which will further include an assessment of the UK Gambling Commission‘s (UKGC) regulatory actions. An ‘independent expert’ will participate in the investigation into the demise of Football Index, which operated as a trading platform where users could purchase ‘shares’ in active professional footballers, receiving payments based …

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