The UK Gambling Commission (UKGC) recently strengthened its longstanding partnership with its Swedish counterpart Spelinspektionen. The two signed a memorandum of understanding to begin a new partnership on November 11th this year. They will collaborate in sharing best practices in procedures and regulatory policies.
Camilla Rosenberg, the Director-General of Spelinspektionen, said that the UKGC agreement is important to the regulator. She said that both organizations share common interests in several areas of regulation. Opening new channels of communication will help them create stronger supervision together. She called it a “broad and long-term cooperation” adding that the regulator also made similar arrangements with the Gibraltar Gambling Division and the Malta Gaming Authority.
Neil McArthur, the chief executive of the UKGC, said that the organization maintains “excellent” relationship with its peers. He said that signing a memorandum of understanding (MoU) with the Swedish gambling authority will be useful in cooperating more closely, handling regulatory issues and taking collaborative actions whenever necessary.
According to the terms of the MoU, the two regulators will boost their common understanding of operational and legitimate interests and work on matters related to mutual policy. They will also help each other on provisions of operational assistance. Both Spelinspektionen and the UKGC will review the MoU regularly to fine-tune the effectiveness of their arrangements.
For now, they will focus on monitoring matters related to supervision issues and general policy. Remote gambling operations will be one of the most important subject matters to consider. Counter-terrorist financing and anti-money laundering steps are also an important part of the agreement. Apart from this, the two organizations will also work on matters related to gaming, betting and transactional data.
Spelinspektionen and UKGC will share any information that could have a negative impact on each other. They will also share any changes in regulatory policies that could materially impact a remote gambling operation.