A statement from the regulator said it had suspended the operator’s licence under Section 118(2) of the Gambling Act, amid concerns it may have breached its licence terms, and failed to comply with the standards expected of the business.
In addition, it failed to integrate with Britain’s national self-exclusion system. Integration with Gamstop has been mandatory for all GB licensees since 31 March, 2020.
PlayerFT are the operator for Fiveyards, a London-based company acting as a virtual football transfer market.
Customers can buy and sell players for real money, and also write scout reports to recommend footballers to other customers.
The suspension is with immediate effect, though customers will still be able to access their accounts and withdraw funds.
“We have made it clear to the operator that during the course of the suspension, we expect it to focus on treating consumers fairly and keeping them fully informed of any developments which impact them,” the Commission added.
The Commission, which recently appointed Andrew Rhodes as interim chief executive, recently suspended the licences of both Nektan and Lottery England Limited.