Regulators

Betting firms may be forced to provide free self-exclusion tools | Society – Business Article

Gambling companies could be forced to provide customers free of charge with software blocking them from betting, under proposals to be considered by the industry regulator. The Gambling Commission has launched a call for evidence looking at ways to better protect vulnerable people and problem gamblers by changing the industry’s code of practice, after identifying weaknesses. Proposals for consideration include forcing bookmakers and online casinos to fund tools that allow customers to lock themselves out of gambling altogether, building on…

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Digital ad market under fresh scrutiny amid competition concerns | Media – Business Article

Facebook and Google could be forced to open up their businesses and share details of how their advertising model works, after the government backed an investigation into concerns that their dominance of the online advertising business is hurting news publishers. News outlets have long complained that Facebook and Google, which together account for the vast majority of digital advertising in the UK, have sucked out billions of pounds of revenue that previously supported the cost of journalism. The culture secretary,…

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Calls for regulator to ensure access to cash after bank IT failures | Business – Business Article

The government is facing calls for a new regulator to protect consumers’ access to cash, following several bank IT failures and thousands of cash machine and branch closures across the UK. The consumer group Which? said cash is still a necessity for more than 25 million people in the UK. It also noted the combined closures of cash machines and branches have left people struggling to pay for essential goods and services. The charity is campaigning for the creation of…

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Deloitte fined over company linked to scandal-hit 1MDB | Business – Business Article

Deloitte has been fined 2.2m ringgitt (£415,000) by Malaysian regulators for failures in its audit of a firm linked to the scandal-ridden state fund, 1MDB. The Securities Commission Malaysia said Deloitte was reprimanded because it failed to report the irregularities detected in the Sukuk Murabahah Programme, an Islamic bond issued by Bandar Malaysia Sdn Bhd (BMSB). Deloitte was the statutory auditor for BMSB and its holding company 1Malaysia Development Berhad Real Estate (a subsidiary of state fund 1MDB) for the…

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