The UK Gambling Commission (UKGC) has shared that it could tighten up its enforcement policy, which would probably result in imposing increased financial penalties or even license annulment for gambling operators.
The Chief Executive Officer of the Commission Sarah Harrison spoke at the regulator’s Raising Standards Conference in Birmingham and said that the industry should enforce some changes in order for gambling operators to make sure that their policies are user-friendly and provide the necessary conditions to adequately protect their customers.
In her speech at the first Raising Standards Conference, Ms. Harrison shared that she was aimed at making sure that gambling operators would provide their customers not only with the best odds, but also with the best services. This raised some concerns that the Commission would then start paving its own way to ensure wider compliance.
Still, the UK gambling regulator’s boss explained that at this stage the regulatory body preferred to pursue compliance by using regulatory settlements instead of making full license reviews. Ms. Harrison, however, shared that this period of tolerance would not last forever. In addition, she praised the gambling operators that had already headed to the right direction and once again emphasised on the fact that the changes in the industry need to happen quickly, and if a certain market was dysfunctional, then the country’s government would interfere.
The UK Gambling Commission Chief Executive Officer also said that the regulatory body would propose some changes to its statement of financial penalties, which were very likely to be increased. Ms. Harrison shared that the Commission’s principles concerning the penalties were in compliance with the specific needs of the customers and have taken into account the costs and consumer harm that could be inflicted.
This is not the first time the UK Gambling Commission expresses its opinion that gambling operators must be more focused on their consumers as long as making business decisions in the future is concerned. Ms. Harrison herself explained that a large number of the issues concerned would be subjected to some of the probes that the regulatory watchdog has recently announced. Changes had also been proposed by the Competition & Markets Authority (CMA), too.
Recently, the UK Gambling Commission and the Competition & Markets Authority have both been engaged in various anti-money laundering initiatives, as well as a number of procedures that would make sure customers of gambling operators would get fairness, transparency and reliability.
- Author
Daniel Williams
