FSA signs MoU on Info Exchange with Gambling Commission of Alderney

Posted in Business and Economy, Financial Services at 9:28 pm by Robert Klien

The Financial Services Authority (FSA) (former Seychelles International Business Authority (SIBA)) has entered into a Memorandum of Understanding (MoU) with the Alderney Gambling Control Commission (“AGCC”) as regards Mutual Assistance and Exchange of Information.

The document was signed by Ms. Jennifer Morel, the Chief Executive Officer of the FSA and Mr. Jorn Starck, the Executive Director of the AGCC.

By virtue of the Seychelles Gambling Act 2014, the FSA is the regulator of casino, slot machines and interactive gambling business. The AGCC, through the Gambling (Alderney) Law, 1999 is the regulator of gambling on the Island of Alderney, the northernmost of the inhabited Channel Islands.

In consideration of the growing globalization of gambling services, the financial regulators of the two jurisdictions recognize the importance of establishing a framework for mutual cooperation and consultation to ensure compliance to relevant laws and the facilitation of the performance of their respective regulatory functions.

The MoU formalizes the willingness of the two Authorities to cooperate with each other in the interest of fulfilling their respective responsibilities and functions.

The main areas of cooperation under the MoU include mutual assistance and exchange of information, as well as allowing for joint investigations.

The signing of the MoU reveals a continuance of the relationship between the two institutions. It also marks an important step towards the strengthening of its regulatory functions and
the enhancement of its relations with other reputable jurisdictions.

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