Gambling Commission to change licensing requirements
The UK regulator has confirmed it will change licensee reporting requirements from October 31.
UK.- The Gambling Commission (UKGC) has confirmed it will bring in changes to its Licence Conditions and Codes of Practice (LCCP) from October 31.
It has announced 22 changes aimed at making data requirements more streamlined and efficient, saying the changes would reduce regulatory burden.
They include the introduction of licence condition 15.1.3 on the reporting of systematic or organised money lending and condition 15.2.3, requiring licensees to 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 regulator received 70 responses to its 12-week consultation on the changes.
Sarah Gardner, Executive Director at the Gambling Commission, 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.”
The Commission has also confirmed a series of changes on rules for society and local lotteries designed to create more transparency on lottery spending while increasing prize limits.
