Today I've written to the Government over the Collapse of Football Index.
I was extremely concerned to hear from many of my constituents who've been impacted by this. Serious questions remain about the role of the Gambling Commission & the FCA. @FiGuide
https://t.co/pe0bqHomRd
Worth bearing in mind that the level of volatility in crypto markets is precisely because a lot of those invested know that it's a massive Ponzi and each time the market dips they are scared stiff they'll be the last one holding.
Despite being "firmly on the radar" a mere 2 months ago, @NadineDorries has turned a blind eye to the #footballindex scandal since her appointment as @DCMS head. MPs, please follow @labourlewis's lead and fight for your constituents over this.
This feedback was obtained far quicker than we had anticipated. In our discussions with relevant parties, it has been mutually agreed that given the issue is firmly on the radar now, further tweeting in such overwhelming volume would likely be counter-productive to our cause.
I joined November 2019, after your concerns @GamRegGB @andrewjonrhodes yet you let us carry on, knowing full well with it was going. You need to step-up and take responsibility.
#footballindex
A review into the Football Index collapse, published on Thursday, was daming for the gambling regulator... here are ten things we learned from it
https://t.co/Hzv6wcvwX1
Hi all, wanted to share my @fi_action letter. It's pretty raw. Feel free to borrow from it if you are unsure what to write. Please get a letter written by 10pm tonight 👍
@NadineDorries & @andrewjonrhodes you should have a read. I'm sure there's a conscience in there somewhere..
@KingsmeadFI No as this wouldn't cover the GC and FCA and that is what this report is focused on. We haven't even got to the lies and fraud yet perpetrated by FI Directors.
Responding to Malcolm Sheehan QC’s Review into the regulation of BetIndex, Paula Lee, a partner working on the investigation on behalf of around 10,000 Football Index users says:
U.K. regulators slammed in #FootballIndex report -- FCA dithered on whether it should regulate the firm, while Gambling Commission should have stopped it using financial markets terminology https://t.co/EMqaiDTMAf