The UK Gambling Commission has updated its License Conditions & Codes of Practice, with new rules that went into effect April 4.
The changes apply to what regulatory data must be provided to the commission and also new rules for society lotteries and external lottery managers.
Under the new rules, license holders will be required to report any circumstance where a relationship with a customer has been discontinued, along with key information on suspicious activity reports according to a report at CDCgamingreports.
Operators must also report as key events situations in which game faults lead to overpayment or underpayment of a customer.
Also, they must report any revenues derived from other jurisdictions when there is “a sustained or meaningful generation of the 3 percent to 10 percent threshold being exceeded by the group.” The rule is seen as applying to the operations of group companies trading in so-called grey markets, as well as the legality of funding sources, the report said.
The 3 percent cap refers to the percentage of total revenues gained from any specific jurisdiction and relates to groups of companies where total revenue is over £5 million per annum, with the 10 percent cap applying to companies below this limit, according to CDCgaming.
