(Reuters) -The Independent Football Regulator has unveiled proposals to raise the bar on a new Owners, Directors and Senior Executives test to shut out "rogue owners" in English football, the body
England's Football Regulator Proposes Stricter Rules for Club Ownership
Overview of Proposed Regulations
(Reuters) -The Independent Football Regulator has unveiled proposals to raise the bar on a new Owners, Directors and Senior Executives test to shut out "rogue owners" in English football, the body said on Thursday.
Criteria for Ownership Approval
The new rules will significantly tighten the criteria for determining whether individuals are fit and proper by expanding checks to include domestic and international cases, banking records and law enforcement data.
Regulatory Powers and Enforcement
Lawmakers voted to back a Football Governance Bill earlier this year to establish the regulator (IFR) which will oversee the game in England's football pyramid.
Public Consultation Process
"The new regime will assess the honesty, integrity and financial soundness of those who want to own or run a football club, ensuring they have the necessary skills and experience to do so," the regulator said in a statement.
"It will promote responsible ownership and protect the financial health of the 116 regulated football clubs, and is the first element of the new IFR regime to be consulted on.
"The rules that will determine whether prospective owners, directors and senior executives are fit and proper have been significantly tightened, while the criteria used to protect against illicit finance and criminal funding entering football have also been widened."
Although current owners and executives will not need to apply for approval, the regulator said it retained the authority to act if concerns arise.
Meanwhile, the regulator is also consulting on its powers for information gathering, enforcement and sanctions -- including financial penalties, public censure and even requiring owners' divestment from clubs.
"These powers will be used proportionately, in accordance with the IFR's statutory duties, and with an understanding of the importance of owner investment and risk-taking in English football," it added.
The proposals have been opened to public consultation until October 6 and the regime is expected to launch soon after the regulator publishes its responses later this year.
(Reporting by Rohith Nair in BengaluruEditing by Toby Davis)
