On Tuesday 7 July, the Commission announced that Financial Risk Assessments (FRAs) are now in the pipeline. FRAs are the second of two layers to finance risk checks, the most widely used and least stringent being Financial Vulnerability Checks (FVCs).
“We are considering the Commission’s latest announcement and all options available to us,” a BGC spokesperson told SBC News.
“No decisions have been taken at this stage.”
The measures have been colloquially called ‘affordability checks’ by the industry and gambling law reform advocates since the early days of the 2020-2023 review of the 2005 Gambling Act.
The White Paper on this review proposed financial risk checks when published in April 2023.
Over the following years, this concept has morphed into FVCs and FRAs – the for..
