Department for Culture, Media and Sport written question – answered at on 8 May 2024.
Jim Shannon
Shadow DUP Spokesperson (Human Rights), Shadow DUP Spokesperson (Health)
To ask the Secretary of State for Culture, Media and Sport, whether she has had recent discussions with the Financial Conduct Authority on the potential lessons it has learnt from the collapse of Football Index.
Stuart Andrew
Assistant Whip, Parliamentary Under Secretary of State (Department for Culture, Media and Sport), Parliamentary Under Secretary of State (Department for Business and Trade) (Minister for Equalities)
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.
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.
Yes2 people think so
No1 person thinks not
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Secretary of State was originally the title given to the two officials who conducted the Royal Correspondence under Elizabeth I. Now it is the title held by some of the more important Government Ministers, for example the Secretary of State for Foreign Affairs.
Ministers make up the Government and almost all are members of the House of Lords or the House of Commons. There are three main types of Minister. Departmental Ministers are in charge of Government Departments. The Government is divided into different Departments which have responsibilities for different areas. For example the Treasury is in charge of Government spending. Departmental Ministers in the Cabinet are generally called 'Secretary of State' but some have special titles such as Chancellor of the Exchequer. Ministers of State and Junior Ministers assist the ministers in charge of the department. They normally have responsibility for a particular area within the department and are sometimes given a title that reflects this - for example Minister of Transport.
