Starting July 1, 2024, the UK Gambling Commission (UKGC) has mandated a shift from annual to quarterly regulatory returns for all licensed operators. This significant update to Licence Condition 15.3.1 of the Licence Conditions and Code of Practice (LCCP) is designed to support the Commission's goal of becoming a more evidence-led, risk-based regulator. The new requirement stipulates that all licensees must submit their regulatory returns within 28 days following the end of each quarter.
The Shift to Quarterly Reporting
According to UKGC Data Analytics Manager Jason Davies, the introduction of quarterly submissions aligns with the Commission’s Corporate Strategy for 2024 to 2027. This strategy focuses on leveraging data and analytics to enhance the effectiveness of gambling regulation. Harmonised reporting periods have also been introduced, meaning that all licensees will now submit data for the same time frame, beginning with the period from July 1, 2024, to September 30, 2024.
Davies explained, “Quarterly returns are crucial for a risk-based, evidence-led, and outcomes-focused regulatory approach. Regular and harmonised data will allow the Commission to monitor market trends more efficiently and manage our resources effectively. Additionally, it enables us to publish official statistics more frequently, benefiting those who rely on gambling market data for their work.”
Addressing Licensee Concerns
The UKGC acknowledges that some licensees were concerned about the increased frequency of reporting during the consultation process. To mitigate these concerns, the Commission has reduced the number of questions across all types of regulatory returns. The details of the removed questions are outlined in the "Question removal" section of the Regulatory returns changes effective from July 1, 2024.
The transition to quarterly regulatory returns means that most licensees will have their last return, whether annual or quarterly, ending on June 30, 2024. This alignment ensures that all licensees start the new reporting schedule from July 1. Consequently, most licensees will need to submit a partial return, due by July 28, 2024, for those previously on a quarterly cycle, or by August 12, 2024, for those previously on an annual cycle. Licensees can complete their submissions via eServices.
Enhancing Guidance and Clarity
In conjunction with these changes, the UKGC has updated the Regulatory returns guidance. References to fields removed from the returns have been eliminated, and definitions for fields previously calculated automatically within eServices have been added.
Davies noted, “We are working on further improvements to the guidance based on feedback from licensees. The goal is to clarify any ambiguities and ensure that the guidance is as clear as possible by the end of August. While we are not fundamentally changing the information required, we aim to provide additional clarity where needed.”
The move to quarterly regulatory returns is a pivotal step in the UKGC's strategy to utilize data and analytics for better regulatory outcomes. By ensuring consistent and timely data collection, the Commission can more effectively monitor and respond to market dynamics, enhancing the regulatory framework to better protect consumers and maintain industry standards.
Source:
Making improvements to regulatory returns, gamblingcommission.gov.uk, July 17, 2024.
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