An independent study was commissioned relatively to the actions taken by the AGCC in the Full Tilt Poker case. It will be recalled that the AGCC (Alderney Gambling Control Commission) was the authority under which FTP operated in the world. It is this same organization which withdrew its licences to FTP after the events of black friday.
The independent study was led by Peter Dean and commissioned by the AGCC itself. The purpose of this study was to know if the AGCC had done a good job in this case and if the measures taken were relevant, timely and fair.
According to the author of the 12-page report, the measures taken by the AGCC were appropriate, fair and fast. On the other hand, a small flat. the commission has lessons to be learned from the incident.
The document opens with this introduction (here it is Peter Dean who speaks): "the Alderney Gambling Control Commission (AGCC) was asked to review and comment on the measures taken by the AGCC in link with the Full Tilt Poker company. I'll have to decide on the legitimacy of the measures taken, on the deadlines for these measures and correctness actions".
Recall that Peter Dean is the former president of British games Commission.
Taken from the original document:
"Unfortunate that was the episode covered in this study, it is nonetheless an illustration that the regulation has worked as it should have. As soon as plausible evidence of irregularities were found, the regulator acted promptly and in a proportionate manner. An investigation was opened the findings, a hearing and taken sanctions. Due process has been followed".
"This assessment will be of little comfort for disgruntled players, who are still denied access to their funds held by FTP. Launched legal proceedings in 2011 were adjourned for several weeks to allow time to negotiate a rescue plan".
Further one can read:
"Throughout its relationship with FTP, the AGCC has used FTP lawyers as main channel of information. They played a prominent role in the arrangements to the satisfaction of the AGCC in relation to the powers of the owners, the strengthening of compliance of FTP and acting as intermediaries when, for example, FTP was dilatory in providing the information requested by the AGCC".
The AGCC is satisfied with this study:
"The AGCC wants to thank Peter Dean for his detailed and comprehensive report".
They explain the purpose of the study:
"We think that it was important, given the sensitivity of the subject when it comes to the revocation of the licence for Full Tilt Poker, that an independent review is conducted on the way in which the AGCC has behaved throughout this process and we are pleased that this is now completed."
"We wanted to ensure ourselves and those who show an interest in our activities that if errors had been committed, we would have recognized and if lessons are to be learned, we will learn".
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