Update: Consumer Opportunity to Address UK Gambling Commission
The Commission published its framework for its consultative phase on the licensing conditions on Thursday:
A regulator said in a statement that the proposed changes to the Licence Conditions and Codes of Practice (LCCP) will be important to all gambling operators and customers and any organizations interested with a deadline of December 4, 2013 for input to be submitted.
The Commission will hold several consultation meetings and workshops from September through November.
The following workshops will be held at the Birmingham office to go over the proposals presented in the consultations:
18 October: Discussion of proposed amendments to the Licence Conditions and Codes of Practice, focusing on changes relevant to local operations.
25 October: Discussion of proposed amendments to the Licence Conditions and Codes of Practice, focusing on changes relevant to the remote operations.
"In some of these cases, customer funds have been lost or have only been reinstated some time later when another company has taken on the assets and liabilities of the collapsed operator. While these cases involved licensees regulated overseas and very few of the larger remote operators are currently licensed here, the same issues arise in principle with those licensed here," the document indicates.
"A change in approach for remote gambling operators particularly may be appropriate for several reasons," the document explains.
"The remote gambling sector that the Commission regulates is likely to grow significantly. The Commission currently regulates approximately 15 percent of the UK remote gambling consumer market, because some operators based offshore are permitted to offer gambling to UK customers under current legislation.
"The total value of funds held in customer accounts by all those operators which we regulated averaged GBP 162.32 million."
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