The UK Gambling Commission (UKGC) has announced that changes to terms of licence conditions and codes of practise (LCCP) will take effect as of October 31.
After a consultation lasting 12 weeks, in which the UKGC received 70 responses, the regulator outlined 22 changes to LCCP terms, regulatory returns and official statistics.
The planned reforms would ‘make data requirements more efficient for licensees, and for us,’ according to the UKGC. The ideas addressed during the consultation explicitly aimed to:
- improve data quality and the efficiency of regulation
- reflect our continued focus on customers and social responsibility
- ensure requirements are reconciled against our current and future data needs
- streamline our existing requirements
- reduce regulatory burden.
Changes to LCCP requirements include the addition of a new condition of licence (licence condition 15.1.3) relating to formal or structured money lending coverage.
In addition, the UKGC has now adopted a new condition of licence (License requirement 15.2.3) requiring that licensees report ‘any actual or potential breaches by the licensee of provisions of the Money Laundering, Terrorist Financing and Transfer of Funds (Information on Player) Regulations 2017.’
The UKGC has also announced a series of changes to the company and local lottery rules and regulations that came into force on July 29.
The improvements include greater accountability on lottery spending and an increase in the scale of lotteries for society. Limits on the scale of lotteries in society will be increased in accordance with the latest legislation of government. This means:
- The limit on individual draw proceeds will rise to £5million from £4million
- The annual aggregate proceeds limit will increase to £50million (pro-rata limit of £31,311,475 in 2020), up from £10million, and;
- The maximum individual prize will rise to £500,000 from £400,000, provided that the lottery proceeds reach the new maximum individual draw level.
Executive Director of the Gambling Commission Sarah Gardner said: “This consultation has strengthened several important aspects of our licence conditions and codes of practice which apply to society lotteries.
“It is critical that consumers have information available to them to help make fully informed decisions about whether to participate in lotteries. These changes will make sure that consumers have access to that information, and the key areas which they and wider stakeholders told us were important to them.”