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ANJ opens nine sanction proceedings against online gambling operators in France

Enforcement & compliance

Source: ANJ (France)

France’s ANJ opened nine proceedings before its sanctions commission on 22 September 2022, the authority said. Seven operators allegedly exceeded the 85% annual player return limit in 2021, while two allegedly failed to identify and support people experiencing excessive or pathological gambling. The commission can impose measures including financial penalties of up to 5% of turnover.

Operators face proceedings over player-return limits and duties to identify and support people at risk of harmful gambling.

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Regulation

Hong Kong SFC pursues proceedings against Andrew Lo and two companies

Hong Kong’s Securities and Futures Commission said it still plans to pursue legal proceedings against Andrew Lo, LET Group Holdings and Summit Ascent Holdings, with the action due to start in September next year. The SFC said HKD146.9 million was paid into court on 20 October, leading to the lifting of worldwide freezing orders against Lo and Major Success Group; the proceedings seek remedies including a share repurchase order.

The Securities and Futures Commission of Hong Kong intends to continue its case against Andrew Lo Kai Bong, the gaming entrepreneur, the SFC said in a notice issued on Friday. LET Group Holdings and Summit Ascent Holdings are also named in the planned action, which is scheduled to begin in September next year. The proceedings fall under the Securities and Futures Ordinance of Hong Kong.

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