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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 including the Financial Conduct
Authority. 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.</p>
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