British and Swedish regulators target best practice with MoU
The GB Gambling Commission and the Swedish Gambling Authority (Spelinspektionen) have announced details of a new Memorandum of Understanding (MoU), with the aim of enhancing cooperation between the two regulatory bodies.
Under the agreement, which came into effect on 11 November, the Commission and Spelinspektionen will work closely to share best practice on areas such as regulatory policies and procedures.
This will include promoting a common understanding of legitimate interests, engaging on matters of mutual policy and operational interest, as well as the provision of operation assistance.
The two organisations will cooperate on general policy and supervisory issues, matters relevant to remote gambling operators, measures related to anti-money laundering and counter terrorist financing, as well as betting, gaming and other transactional data.
In addition, both the Commission and Spelinspektionen have agreed to share any information that could have an adverse impact on a remote gambling operator, and enforcements or regulatory actions that could also have a material effect on a remote operator.
As part of the agreement, the two regulatory authorities will periodically review the MoU to evaluate the effectiveness of the arrangement and put forward any suggested amendments.
“We have excellent relations with other gambling regulators from across the world and our new link up with the Swedish Gambling Authority will give more opportunities to share good practice on a whole host of regulatory issues, cooperate closely and take shared action where appropriate,” GB Gambling Commission chief executive Neil McArthur said.
Camilla Rosenberg, director general of Spelinspektionen, added: “This is an important agreement for us. We have common interests in many areas. 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."