UKGC and Spelinspektionen Sign Memorandum of Understanding

The Swedish Gambling Authority, Spelinspektionen and the United Kingdom Gambling Commission have signed a Memorandum of Understanding (MoU) and now have gone public with new details.

The goal of the MoU is to enhance and deepen the collaboration and effectiveness of the two regulatory bodies.

The agreement between the two regulators has been in effect since November 11 and stated that the two regulators will work together on creating a safe gambling environment and share their best practices about regulatory policies and procedures. The part of the agreement was to pay attention to occasional revision of the Memorandum in order to evaluate the effectiveness of their operations.

The main goal of the agreement is to promote a common understanding of legitimate interests as well as the provision of operation assistance. The regulators also worked together on tackling matters of mutual policy and operational interest.

On the Agenda

UKGC and Spelinspektionen have agreed to spend time talking about anti-money laundering and counter-terrorist funding, as well as wagering transactional data. Both regulatory bodies have agreed to share any relevant information that could prove to have a negative impact on remote gambling distributors.

Representatives from UKGC say that they have excellent relations with regulatory bodies from other countries and that the deal with the Swedish regulator will provide more opportunities to share good practice on a whole host of regulatory issues.

Neil McArthur, Chief Executive Officer at UKGC said: “We have excellent relations with other gamlbing 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.”

Camilla Rosenberg, director-general of Spelinspektionen, added: “This is an important agreement for us. We have common interests in many areas. By opening communication channels between the authorities we become stronger in our supervisory activities. This is the beginning of broad and long-term cooperation.”

More About the Gambling Commission

The Commission was set up under the Gambling Act of 2005 in order to regulate gambling in Great Britain together with licensing authorities. It also regulates the National Lottery.

The UKGC, who recently partnered up with a Birmingham charity, issues licenses for license holders, gambling premises and heavily promotes responsible gambling.

The Commission operates as an executive non-departmental public body of the Government of the United Kingdom. Its main goal is to keep crime away from gambling and to protect the end-s. They also consult the government on gambling-related issues.

Their motto is “Keeping Gambling Fair and Safe for All” and they’ve been doing a good job.

Source:

“British and Swedish regulators target best practice with MoU”, igamingbusiness.com, November 27, 2019.