New Memorandum of Agreement Brings the Farthest Borders of EU CloserPublished March 7, 2019 by Lee R
The new market in Sweden is eager to learn from the pioneering Malta jurisdiction.
Newly regulated Sweden and regulation pioneer Malta are collaborating.
In the interest of furthering “public policy objectives and mutually common values,” the Malta Gaming Authority and Spelinspektionen Tuesday announced the signing of a Memorandum of Understanding to enhance their cooperation.
According to terms which came into effect March 4th, the MoU will support the effective sharing of information between the two parties on regulation challenges and matters in which they have shared interest.
In a market recently liberalised to licence international operators January 1, 2019, Sweden is just learning what it's challenges are.
Since the licensing process for the new regime in Sweden began last fall, Sweden Authority Spelinspektionen has issued nearly 70 gaming and betting licences—the majority to MGA licencees maintaining their technical equipment and base in the Mediterranean island nation.
Malta is fresh off introduction of important amendments to simplify its Gaming Act from a multi-licence system to a dual licensing system for B2B services and B2C gaming/betting services.
Spelinspektionen Leader Speaks
Swedish Gambling Authority Director General Camilla Rosenberg explained the expansion strategy behind the MoA:
“By opening the communication channels between the authorities, we become stronger in our supervisory activities. This is the beginning of a broad and long-term cooperation, and our plan is to initiate corresponding collaborations with more gambling authorities in Europe.”
MGA Leader Strategy
MGA Chief Executive Officer Heathcliff Farrugia pointed out that a key to his organisation's regulatory objectives was building effective relationships such as the new one in the MoA:
“The MGA is always actively seeking to foster relationships with fellow authorities and other international regulatory bodies as we firmly believe that such relationships are key to reaching our objectives, especially in the area of remote gaming which is fundamentally cross-border in nature.”
Stretching across the entire geographical swath of the EU, the new collaboration between Sweden and Malta is an intriguing bond. A successful collaboration model has the chance spread to all EU members in between to yield an optimised model for compliance and efficiency across the remainder of the EU, where the most jurisdictions are regulating to this point.