UKGC Implements Quarterly Regulatory Reporting for License Holders

The UK Gambling Commission (UKGC) has rolled out a significant amendment to license condition 15.3.1, requiring all license holders to submit regulatory returns every quarter. This initiative stems from the Commission's Autumn 2023 Consultation on proposed Licence Conditions and Codes of Practice (LCCP) changes, marking a positive stride towards bolstered gambling harm prevention efforts.

By transitioning to a quarterly reporting approach, the UKGC aims to garner more timely insights into gambling harms, facilitate better evaluation of public health interventions, and ensure the relevance of the data received. Moreover, this change is expected to promote efficiency among licensees by aligning remote and non-remote submission dates.

The decision to implement quarterly returns was driven by industry feedback, with nearly half of respondents expressing agreement with the proposal. Stakeholders emphasized the potential for quarterly reporting to enhance understanding of evolving gambling behaviors and improve response times to emerging challenges.

Despite concerns from some licensees, the UKGC believes that the benefits of quarterly reporting outweigh administrative burdens. This move aligns with the Commission's commitment to being a risk-based, evidence-led regulator, enabling better monitoring of market conditions and informing regulatory changes to address emerging issues promptly.

To ease the transition, the UKGC has streamlined regulatory returns by removing approximately 600 fields across all license types. These amendments aim to mitigate the administrative burden of quarterly reporting while ensuring timely and accurate data submission.

The mandated period for submitting regulatory returns will be 28 days, consistent with the current requirement window. The UKGC plans to communicate these changes comprehensively, supporting all stakeholders ahead of the 1 July 2024 implementation date. Ultimately, these regulatory adjustments are poised to contribute to a more robust and future-oriented framework for gambling regulation in the UK.