Link between Football Index Collapse and UKGC CEO’s departure comes under scrutiny

Subscribers to EGR Intel can access here a pay-gated article entitled “Pressure situation: The under-fire UK Gambling Commission feels the strain”, that includes comments by David Clifton and others in relation to the following issue:

“The high-profile collapse of Football Index has led to accusations that the UKGC was ‘asleep at the wheel’. But where does this leave the beleaguered regulator as Neil McArthur heads for the exit?”

The article has been published just two days after the Gambling Related Harm APPG wrote a letter to the Prime Minister (that you can download below), “calling for an urgent independent public inquiry into the circumstances around the collapse of Football Index and Footstock, which should include the role of the Gambling Commission and the Department of Digital, Culture, Media and Sport (DCMS) in its terms of reference”. The letter added that: “it appears as though the Gambling Commission licensed what became a pyramid scheme, was subsequently warned that it had become a pyramid scheme, but by negligence or design allowed Football Index to overstate its financial position, reassuring its users to attract more investment and new money into the platform”.

You can find out more on the background circumstances to the subject-matter of the EGR article in our following website postings:

UPDATES:

1. David Clifton’s April 2021 ‘Licensing Expert’ article for SBC News entitled “Gambling can’t hide from its spotlight” (that you can also download below) comments on the subsequent 15 April 2021 DCMS announcement of an independent review into the collapse of Football Index.

2. Arising from David’s above article for SBC News, he was invited to answer a series of questions posed by ‘Football Index Trader’. You can read here David’s answers to those questions based on information available at the time of publication on 5 May 2021 of the ‘Football Index Trader’ blog (entitled “FI and the Gambling Commission: Q&A with licensing expert David Clifton”).