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Football Index collapse

EDM (Early Day Motion) 697: tabled on 25 November 2021

Tabled in the 2021-22 session.

This motion has been signed by 39 Members. It has not yet had any amendments submitted.

Motion text

That this House remains deeply concerned about the collapse of the betting firm Football Index in March 2021, following the suspension of the company’s licence by the Gambling Commission and its entry into administration; notes with concern that customers collectively have over £90 million in open stakes trapped in the platform, with average losses of around £3,000 per customer; further notes that shortly after the site’s management announced a cut in dividends of approximately 80 per cent, it suspended trading a few days afterwards, leading to a virtual market crash which caused significant losses for customers; notes with further concern that warnings about the firm operating like a pyramid scheme went unheeded; recognises the recommendations made by Michael Sheehan QC as part of his independent review; calls on the Government to implement his recommendations, specifically those that identified areas for improvement for the Gambling Commission and Financial Conduct Authority, including how they worked together, without delay, to ensure that a similar scandal does not happen again and; and further calls on the Government to do all that it can to ensure that those owed money receive full reimbursement.

The first 6 Members who have signed to support the motion are the sponsors. The primary sponsor is generally the person who tabled the motion and has responsibility for it. The date shown is when the Member signed the motion.

In addition to the sponsors, the following Members have signed to support the motion.

Cowan, Ronnie
Scottish National Party
Signed on 30 November 2021
Inverclyde
Shannon, Jim
Democratic Unionist Party
Signed on 30 November 2021
Strangford
Brock, Deidre
Scottish National Party
Signed on 30 November 2021
Edinburgh North and Leith
Wakeford, Christian
Conservative
Signed on 30 November 2021
Bury South
Stephens, Chris
Scottish National Party
Signed on 30 November 2021
Glasgow South West
Saville Roberts, Liz
Plaid Cymru
Signed on 30 November 2021
Dwyfor Meirionnydd
Lake, Ben
Plaid Cymru
Signed on 30 November 2021
Ceredigion
Williams, Hywel
Plaid Cymru
Signed on 30 November 2021
Arfon
Barker, Paula
Labour
Signed on 30 November 2021
Liverpool, Wavertree
Donaldson, Sir Jeffrey M
Democratic Unionist Party
Signed on 30 November 2021
Lagan Valley
Gwynne, Andrew
Labour
Signed on 1 December 2021
Denton and Reddish
McDonald, Stuart C
Scottish National Party
Signed on 1 December 2021
Cumbernauld, Kilsyth and Kirkintilloch East
Knight, Sir Greg
Conservative
Signed on 1 December 2021
East Yorkshire
Green, Sarah
Liberal Democrat
Signed on 1 December 2021
Chesham and Amersham
Ferrier, Margaret
Independent
Signed on 1 December 2021
Rutherglen and Hamilton West
Gibson, Patricia
Scottish National Party
Signed on 1 December 2021
North Ayrshire and Arran
Mearns, Ian
Labour
Signed on 2 December 2021
Gateshead
Callaghan, Amy
Scottish National Party
Signed on 2 December 2021
East Dunbartonshire
Hanna, Claire
Social Democratic & Labour Party
Signed on 2 December 2021
Belfast South
Lucas, Caroline
Green Party
Signed on 2 December 2021
Brighton, Pavilion
Whitley, Mick
Labour
Signed on 3 December 2021
Birkenhead
Dorans, Allan
Scottish National Party
Signed on 4 December 2021
Ayr, Carrick and Cumnock
Thewliss, Alison
Scottish National Party
Signed on 6 December 2021
Glasgow Central
Moran, Layla
Liberal Democrat
Signed on 6 December 2021
Oxford West and Abingdon
Olney, Sarah
Liberal Democrat
Signed on 9 December 2021
Richmond Park
Ribeiro-Addy, Bell
Labour
Signed on 13 December 2021
Streatham
Begum, Apsana
Labour
Signed on 5 January 2022
Poplar and Limehouse
Nicolson, John
Scottish National Party
Signed on 5 January 2022
Ochil and South Perthshire
Cryer, John
Labour
Signed on 10 January 2022
Leyton and Wanstead
Davey, Ed
Liberal Democrat
Signed on 10 January 2022
Kingston and Surbiton
O'Hara, Brendan
Scottish National Party
Signed on 12 January 2022
Argyll and Bute
McDonnell, John
Labour
Signed on 11 March 2022
Hayes and Harlington
Chamberlain, Wendy
Liberal Democrat
Signed on 16 March 2022
North East Fife

There are no withdrawn signatures for this motion.