The UK Gambling Commission (UKGC) has deepened its commitment to the regulation of the online gambling industry with a new cross-border arrangement.
UKGC has revealed that it has signed an agreement with Spelinspektionen, the Swedish gambling regulator. The agreement takes the form of a Memorandum of Understanding (MoU) that the two bodies hope will increase their cross-border co-operation on regulating the sector.
The UKGC and their Swedish counterpart say that they plan to work more closely together and to exchange ideas on best practice. This will include areas such as regulation policy and enforcement, along with other administrative concerns.
Speaking about the agreement, the director general at Spelinspektionen, Camilla Rosenberg, said that they hoped it would be start of a fruitful relationship:
“This is an important agreement for us. We have common interest 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.”
Cross Border Links
Sweden is one of the leading gambling regulators in Europe when it comes to making links across national borders. In addition to their connection to the UKGC, Spelinspektionen has also signed MoUs with both the Malta Gaming Authority and the Gibraltar Gambling Division.
The MoU also has advantages for the UKGC. Speaking about the arrangement, the Chief Executive of the UKGC, said that it would add to their good relations with a wide range of regulators in the international marketplace. He added that such agreements allow regulators to pass on best practice and to co-operate closely in sharing data and specific information in particular cases.
Spelinspektionen has been involved in a number of high-profile enforcement actions this year, following the launch of the re-regulated Swedish market, and may hope to benefit from the experience of the UKGC, one of the longest established European regulators.