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<p>The collapse of BetIndex Ltd, the operators of the novel gambling product Football
Index, had a significant impact on former customers, and we recognise the frustration
and anger that this has caused. As a result, the Government announced an Independent
Review, conducted by Malcom Sheehan KC, which looked at how the company had been regulated
and identified lessons learned for various agencies. These recommendations have since
been implemented.</p><p>Following the collapse of Football Index, the then-Minister
held several meetings with the Gambling Commission, and officials have worked closely
with their counterparts at His Majesty’s Treasury on the role of the Financial Conduct
Authority (FCA) in this case. I also met representatives from the Football Index Action
Group last year and officials from the department are discussing the issues raised
by the group with the Gambling Commission.</p>
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