The UK Gambling Commission recently announced that it had signed an agreement with the Servico de Regulacao e Inspecao de Jogos, or SRIJ. This organisation is the Portuguese regulator and the two parties have signed a Memorandum of Understanding, which will mean the two regulatory bodies with cooperate with each other and freely exchange relevant information.
The UK Gambling Commission and its new partner
While the announcement of the agreement between the UK Gambling Commission and the SRIJ was only made this week, the actual agreement was reportedly signed in May 2016. The hope is that the agreement will strengthen the two regulatory bodies and help improve online gambling regulations. The agreement should also help combat illegal gambling activities in the UK and Portugal, with the two partners introducing regulations they each consider adequate.
The SRIJ was represented at the signing by the Vice Chair, Teresa Montiero, while the UK Gambling Commission’s Chief Executive, Sarah Harrison, signed the agreement. This agreement hopes to see a mutual collaboration plan implemented in the near future, in a bid to safeguard the gambling industry in a fair and open manner.
UK Gambling Commission’s Hopes for the Future
Both parties also agree that they’d like to make sure the online gambling industry does not become a source of criminal activities and disorder. This will help the UK Gambling Commission and the SRIJ protect the vulnerable members of society in the UK and Portugal, preventing them from being exploited and getting addicted to gambling.
The Director of Regulation at the UK Gambling Commission, Mr Nick Tofiluk, has come out and commented on how pleased everyone is with the signing of the bilateral agreement. The UK Gambling Commission firmly believes that the best way to protect society and ensure online gambling is conducted properly is to work with other regulators. The signing of this Memorandum of Understanding has become an excellent way of formalising the collaboration between the two and will hopefully make them even more effective.
