Tag Archives: eu

The pressure is mounting on embattled UK Prime Minister Theresa May, as Brexit negotiations head towards collapse, and rumours surface of a potential Conservative Party revolt against her leadership. Last week, the European Union’s Chief Negotiator Michel Barnier gave the UK government a two-week deadline in which to ‘clarify its stance on financial obligations and EU citizens’ rights’. Barnier warned the …

Toughening up European laws and practices against money laundering and organised crimes, the European Union may force bookmakers to implement ID-checks on customers that wager more than €2000. The tougher provisions form part of the EU-wide anti-money laundering directive, aimed at minimising terror organisations and criminal gangs’ ability to launder money through legitimate enterprises. The EU Council had previously warned …

Updating industry stakeholders, the Malta Gaming Authority (MGA) has published a white paper proposing a number of reforms to its national Gaming Legal Framework. The MGA wants to overhaul and repeal all its existing legislation, by streamlining provisions under a ‘singular primary Act of Parliament’ entitled the Gaming Act. Moving forward the MGA would act as ‘the single regulator’ for …

Issuing a market update, the Malta Gaming Authority (MGA) has published a joint industry consultation with the Financial Intelligence Analysis Unit (FIAU) detailing forthcoming changes to EU-wide business policy relating to ‘anti-money laundering and combatting the funding of terrorism (AML/CFT) requirements’. The document highlights provisions set by the European Parliament and Council on new regulations relating to the prevention of …

The UK Gambling Commission has alerted industry stakeholders to new regulations implemented on money laundering and financial transfers by the UK Government. This week the UK Government published the “The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017”, with new EU-wide regulations set to come into effect from 26 June. The new publication is set …

FTSE-listed online gambling group GVC Holdings will not pursue operator licensing for the regulated Czech Republic online gambling market. Sending a communication to Czech affiliates and media partners, the operator has stated that following a review of market conditions it has concluded that current gaming laws are ‘incompatible with the principles of the European Union’. The operator had previously withdrawn …

European gambling operator Stanleybet is suing the government of Cyprus for breaching European Union trade and business policies. Filing a claim under Stanleybet Malta, the operator is seeking compensation in excess of €12.5 million for loss of operating profits, legal costs and restriction of services relating to the ‘2012 Betting Law’ which banned wagering on Virtual Sports terminals. Furthermore, Stanleybet …

Updating the market, Kindred Group (former Unibet Group Plc) has confirmed that it has become the first industry operator to meet all requirements of the European Union standards and policy mandate; ‘Recommendation on Consumer Protection’ (2014). Completing an official audit, Kindered Group assets successfully passed an official review benchmarked against EU standards and best practices focused on ongoing consumer protections …