The UK Gambling Commission (UKGC) has signed a memorandum of understanding (MoU) with its Swedish counterpart, Spelinspektionen.
The new agreement is hoped to strengthen the collaboration between the two regulators, having come into effect on 11 November 2019. Under the terms of the partnership, the duo will collaborate in sharing best practice on areas such as regulatory policies and procedures.
UK Gambling Commission chief executive Neil McArthur explained: “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.”
As part of the enhanced partnership, the UKGC and Spelinspektionen will work together to promote a common understanding of legitimate interests, engaging on matters of mutual policy and operational interest, as well as the provision of operational assistance.
The Director General of Spelinspektonen, Camilla Rosenberg, said: “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. Earlier this year we have entered a MoU with Malta Gaming Authority and Gibraltar Gambling Division.”
The UKGC will work with the Swedish gambling authority to monitor general policy and supervisory issues, matters relevant to remote gambling operators, as well as measures related to anti-money laundering and counter terrorist financing. Issues relating to betting, gaming and other transactional data will also be included.
Information collected by the two regulators which could have an adverse impact on a remote gambling operator will be shared, while data will also be shared on regulatory enforcement or actions that could also have a material effect on a remote operator.
The MoU will be subject to a review which will evaluate the effectiveness of the arrangement and put forward any suggested amendments.