UKGC and Spelinspektionen Reach Landmark Memorandum of Understanding AgreementPublished December 5, 2019 by Lee R
The movement afoot to unify regulation policy is an intriguing step-by-step process.
The two most prominent regulatory authorities in the world have merged into a landmark agreement.
A Memorandum of Understanding has been signed between the UK Gambling Commission and Sweden's Spelinspektionen: coming into effect on 11 November 2019, the duo will collaborate in sharing best practice on areas such as regulatory policies and procedures.
Spelinspektionen Director General Camilla Rosenberg asserted the significance of the new agreement due to the “common interest” the two organizations share in many areas: “by opening the communication channels between the authorities we become stronger in our supervisory activities.”
The “broad and long term cooperation” is the continuation of unification between regulatory authorities that the UKGC launched earlier this year via an MoU with Malta Gaming Authority and Gibraltar Gambling Division.
UKGC's Recent Campaign
UK Gambling Commission chief executive Neil McArthur said his organisation is building on relations with other gambling regulators around the world by linking up with the Swedish Gambling Authority to expand opportunities to “share good practice on a whole host of regulatory issues, cooperate closely and take shared action where appropriate.”
The UKGC and Spelinspektionen will work alongside one another to increase understanding of legitimate interests through mutual policy, operational interest, and operational assistance.
The memorandum of understanding will be reviewed periodically by the two regulators to evaluate the effectiveness of the arrangement and offer constructive amendments.
Spelinspektionen and the UKGC have committed to cooperate in monitoring general policy and supervisory issues; matters relevant to remote gambling operators; anti-money laundering and counter terrorist financing, as applied to areas of covering issues of betting, gaming and other transactional data.
Remote Operator Focus
Information collected by the two regulators which could have an adverse impact on remote gambling operators will be of particular interest as well.
The terminology may seem broad, but what we start to see here is the foundation of an infrastructure via MoA's between jurisdictional regulatory bodies that can ultimately serve to unify regulation.
A shared interpretation of equitable regulation policies worldwide stands as an ideal goal which will make all jurisdiction policies more uniform and transparent to both those who impose them and those who abide by them.