Gambling Commission tightens quarterly reporting requirements
Date: 2024-07-05 Author: Robert Beloved Categories: EVENTS
New regulations: frequent reports for operators
The Gambling Commission has introduced updated rules for license holders, requiring them to submit quarterly regulatory reports from 1 July 2024. These changes require all licensees to file reports within 28 days of the end of each quarter.
Changes to the reporting schedule
The updated schedule means that all previous reports, including data up to June 30, 2024, must be submitted by July 28, or August 11, 2024, depending on the specific license. The first reporting period from July 1 to September 30, 2024 must be completed by October 28, 2024.
Felix Faulkner from Poppleston Allen noted the importance of preparing for new requirements:
"We warned all license holders back in March to be aware of these changes coming into force this summer. All operators must ensure their teams are prepared to meet obligations and that all processes are in place before the July 28 submission date."
Investigation and other measures
In recent months, the Gambling Commission has stepped up efforts to tackle the financial risks associated with gambling. She launched an investigation into a senior official for violating betting rules, sparking public debate and attention to transparency in the industry.
The Gambling Commission's new rules aim to strengthen control and reduce financial risk in the industry, highlighting the importance of regular reporting and strict compliance checks. These measures pave the way for more responsible and transparent gambling governance.
