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AGCC LAUNCHES REVIEW INTO OWN ACTION IN FTP DEBACLE
December 7, 2011 : Regulatory authority embarks on credibility exercise
The Alderney Gambling Control Commission (AGCC) has launched an independent, external review into its own conduct and actions in the Full Tilt Poker debacle, presumably to restore industry confidence following harsh criticism over the way the authority handled the case.
The review will cover the regulatory body's actions and processes leading up to the suspension, and eventual revocation, of licences belonging to Vantage Limited, Filco Limited, and Oxalic Limited together trading as Full Tilt Poker (FTP) to provide "full transparency," said an AGCC statement.
AGCC has appointed Peter Dean CBE, the former Chairman of the British Gambling Commission, to conduct the review.
André Wilsenach, Executive Director, said:
"As soon as we became aware that there were possible irregularities in relation to FTP’s operational integrity AGCC acted to discharge fully our statutory obligations.
"We believe we acted appropriately and fairly at all times but, following our own internal assessment and the inevitable questions that have been raised by third parties, the Commission decided that it is in the best interests of players, licence holders and AGCC itself to commission an independent review and to make the outcome public.
"I am delighted that Peter Dean has agreed to conduct the review. He has many years of experience at the top of the British Gambling Commission and commands wide respect from operators and regulators alike. He has been asked to review fully the actions taken by AGCC in respect of FTP and to focus specifically on the appropriateness, timeliness and fairness of those actions."
A final report and recommendations will be presented by Peter Dean to the Commission by end March 2012.
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