The Malta Gaming Authority (‘MGA’) and the Spelinspektionen (the Swedish Gambling Authority) have signed a Memorandum of Understanding effective as of 4th March 2019 to enable cooperation between the two authorities.
This arrangement will facilitate and establish a channel of continuous communication between the said authorities and shall also entail mutual assistance between both regulatory authorities as regards their respective supervisory functions, including by way of information sharing on areas of mutual concern. The authorities have also agreed to provide each other with the best possible operational assistance in order that they may both conform to their respective regulatory objectives, policies and procedures.
In light of Sweden’s recent decision to regulate the online gaming market by introducing a licensing system, this is seen as a significant development, particularly given that the vast majority of gaming companies which have been granted a licence from the Swedish Gambling Authority are already in possession of a licence issued by the MGA and have their technical equipment set up in Malta.
Regulatory authorities face different cross-border issues and thus, have divergent national regulatory frameworks in place. In spite of this however, they still share common public policy objectives which would require said authorities to work more closely together. Thus, enhanced cooperation between the gambling regulatory authorities of Member States will contribute to address matters of common interest which ultimately boil down to the protection of consumers and minors, the prevention of crime, money laundering and funding of terrorism and the protection of the reputation of their respective jurisdiction.
For access to the full press release kindly visit https://www.mga.org.mt/the-malta-gaming-authority-signs-mou-with-the-swedish-gambling-authority/
