David Clifton’s monthly “Licensing Expert” article for SBC News entitled “Dealing with LCCP changes and key event reporting” arrives a little earlier this month to take account of the recent changes to the Gambling Commission’s Licence Conditions and Codes of Practice (“LCCP”) that came into effect on Wednesday of this week 4 April.
In his article (that can be downloaded below), David summarises the principal LCCP changes, with particular reference to imposition on gambling operators licensed by the Gambling Commission of a new key event notification requirement relating to group revenues derived from other jurisdictions.
He goes on to talk about what happens if such an operator breaches its licence conditions by forgetting to report a key event within five working days of becoming aware of its occurrence or, worse still, breaches the Gambling Act 2005 by omitting to submit, within a strict statutory five week “window”, a formal application to the Commission for a change of corporate control when a person or other legal entity acquires 10% or more of its (or its parent company’s) shares and/or voting power.
David stresses the importance, highlighted by the recent Sky Betting & Gaming Public Statement of an operator ensuring that when any such breach occurs, it:
- makes admission of its failings to the Commission,
- is proactive and timely in self-reporting all issues identified,
- is open and transparent from the outset of any investigation by, and is fully co-operative throughout with, the Commission,
- initiates thorough internal investigations and takes proactive action to address identified failings and weaknesses, on which it fully reports to the Commission, and
- provides demonstrable insight into the seriousness of its failings.