UKGC Regulatory Approach To Be Questioned By Lords Select Committee

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The UK Gambling Commission (UKGC) leadership will be challenged by the House of Lords Select Committee today, as they investigate the gambling industry’s’ social and economic impacts.’

UKGC Chief Executive Neil McArthur and Chairman Dr Bill Moyes are scheduled for a two-hour’ evidence session’ this afternoon to offer comprehensive insights into the UK gambling industry.

The evidentiary session is part of the UK gambling industry’s year-long House of Lords investigation led by Lord Michael Grade of Yarmouth.

The Committee seeks to establish’ reliable facts’ on specific factors and trends in the industry with the goal of developing better regulatory frameworks and future oversight.

UKGC leadership will be challenged on its fundamental approach to governing UK gambling and its partnership with industry incumbents–two factors that have received critique of UKGC by MPs of the All-Party Parliamentary Group (APPG) for Gambling Related Damage.

APPG representatives criticised the UKGC for allowing GVC Holdings to lead the creation of an industry player rewards ‘ Code of Conduct,’ describing the decision as a’ conflict of interest.’

Additional review should concentrate on the regulatory practises of the UKGC with respect to fines, tracking operator actions and ensuring that the licenced incumbents maintain consumer protection and safeguards.

In addition, the Committee will question the ability of the UKGC to keep pace with ever-changing trends in technology, consumer habits and ever-changing products and services in the sector.

Last week, members of the top-5 providers in UK betting (bet365, William Hill, GVC Holdings, Sky Bet and Flutter Plc) provided evidence to the House of Lords Select Committee. At the hearing, betting leaders were unambiguous that collaborative mechanisms were established between the industry and regulatory authorities as the most effective method for regulating the gambling market, mitigating risks and protecting consumers.

 

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