Asked by: Joe Morris (Labour - Hexham)
Question to the Department for Digital, Culture, Media & Sport:
To ask the Secretary of State for Culture, Media and Sport, whether she has received representations on the collapse of Football Index.
Answered by Stephanie Peacock - Parliamentary Under Secretary of State (Department for Culture, Media and Sport)
The Secretary of State has received letters and emails from members of the public and Members of Parliament on the collapse of BetIndex Ltd, the operator of the novel gambling product Football Index. The collapse had a significant impact on former customers, and we recognise that many people were affected, and that for some people financial losses were significant. The previous Government commissioned an Independent Review in June 2021, conducted by Malcom Sheehan KC and which reported in September 2021. The review looked at how the company had been regulated, and identified areas for improvement for the Financial Conduct Authority and the Gambling Commission. All recommendations of the report have since been implemented.