FOOTBALL INDEX SCANDAL - INDEPENDENT INQUIRY NEEDED

I have lodged an Early Day Motion in the House of Commons about the Football Index scandal.

This self-styled “stock market of football” has cost consumers over £100 million, following its crash.

The fact that the Gambling Commission saw fit to licence this company and failed to act even after warnings that it was no more than a dangerous pyramid scheme is a matter of real concern.

We need to understand why the Gambling Commission failed to properly regulate this company and why it was licensed this company in the first place.

Gambling regulation needs to be fit for purpose and there are serious questions to answer, which is why I am calling for a full independent inquiry into this scandal so that this cannot happen again.