Tag Archives: FCA

The Gambling Commission seeks to improve transparency on funding disclosures related to licensees and their investors, a remit needed to strengthen its regulatory oversight of UK Gambling. Jessica Wilson, Gambling Law Associate of Harris Hagan provides her legal eye on newly released guidance from the Commission which aims to clarify the requirements for source of funding disclosures, but still leaves …

Stats Perform has entered an exclusive partnership with Equifax UK to enhance affordability checks for betting and igaming operators. Under the terms of the deal, clients of the data and analytics firm will have access to Equifax UK credit referencing data to undertake customer affordability checks. As detailed by Stats Perform, the partnership “will allow sports betting and gaming operators …

Seeking to improve the industry’s accountability, the UK Gambling Commission (UKGC) has signalled its intent to tighten its reins on individual licence holders.  Bahar Alaeddini, Partner at Harris Hagan for online gambling, breaks down why transforming corporate culture by driving personal accountability and responsibility will be the key to better outcomes. The White Paper included a fleeting mention of extending …

The full-year 2022 financial accounts of William Hill Limited have been filed by 888 Holdings with the corporate register of the Financial Conduct Authority (FCA).    Temporarily under the ownership of Caesars Entertainment Inc and accounting for the assets of William Hill UK and Mr Green, the company was acquired by 888 on 1 July 2022.  Results filed with the FCA …

The Financial Conduct Authority (FCA) has this morning published tough new rules on the marketing of cryptoassets, required to protect UK consumers by clarifying the risk of investing  in digital assets. The new rules on marketing cryptoassets follow extensive FCA research provided to the Government for the consultation on the ‘Future Regulatory Regime for Cryptoassets’. From 8 October 2023, firms …

The House of Commons Treasury Committee has recommended “treating retail investment in cryptocurrencies like gambling”, due to the high volatility of value changes of cryptoassets and potential for consumers to lose their entire investment.  The recommendation forms part of the Committee’s report evaluating the “potential benefits of cryptoassets and their underlying technology value, and the risk of investment in cryptoassets”. …

All problem gambling treatment support stakeholders have been called on to back ‘Debt Awareness Week’ by GamCare.  The national campaign that runs across Britain from 20-26 March is led by debt-relief charity StepChange, to highlight the “reality that debt can affect anyone, regardless of their background or circumstances.” GamCare highlighted the importance of Debt Awareness Week, which comes as the …

As the FCA delayed the restricting of licenses for 12 firms and further complexities were underlined within crypto regulation. Todd Crosland, CEO of CoinZoom, told  PaymentExpert why regulatory trust remains a vital endeavour for digital currency.  Reflecting present circumstances, Crosland emphasised that ‘the demise of cash, combined with the onset of new digital banking tools, has undoubtedly accelerated the rate …

GamCare has cited growing concerns of UK consumers trading high-risk cryptocurrencies and stocks following feedback from the National Gambling Helpline that registered callers who share similar experiences of falling into financial despair and deteriorating mental health. One caller cited by GamCare stated: “I was looking at the trading apps nearly 16 hours a day. I kept putting my money in …

The UK Gambling Commission (UKGC) has this morning launched a consultation seeking feedback on its licensing, compliance, and enforcement policy procedures.  Open until 9 February, the consultation aims to build upon the UKGC’s ‘Statement of Principles’ that have established regulatory policies in relation to – risk assessment, licensing operators and key personnel, carrying out compliance activities and regulatory/criminal enforcement. Feedback …