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  1. Public register
  2. Regulatory action register
  3. Sanction for Silverbond Enterprises Limited
Sanction

Silverbond Enterprises Limited

Account number:
Decision date:
17 January 2019
Outcomes:
Conditions attached to the licence, Warning, Conditions attached to the licence, Financial penalty and Warning

Details

Following a review of the licence issued to Silverbond Enterprises Limited (Silverbond) t/a Park Lane Club (the Licensee), the Commission found the Licensee: 
 

  • breached specific conditions of its licence in relation to ensuring complete full Enhanced Due Diligence (EDD) on its top 250 customers within its customer profiling system
  • failed to comply with anti-money laundering (AML) requirements
  • failed to comply with social responsibility (SR) codes of practice. 
     

In line with the Commission’s Licensing, compliance and enforcement policy statement, the indicative sanctions guidance and the Statement of Principles for determining financial penalties, the Commission has decided to: 
 

  • impose a financial penalty under section 121 of the Act in the sum of £1.8 million.
  • issue a warning under section 117(1)(a) of the Gambling Act 2005 (the Act); and
  • impose additional conditions to the Licensee’s licence under section 117(1)(b) of the Act.

More information can be found in the Commission’s decision notice, which can be found on our website

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