Swedish Government updates European Commission EC of proposed changes to the 2018 Gambling Act.
Swedish Government has presented to the European Commission EC proposed changes to the 2018 Gambling Act for review. The new amendments came after careful deliberation by the Spelmarknadsutrendningen independent request of Sweden’s regulated gambling industry. Social Democrat MP Anna-Lena Sörenson orchestrated the inquiry in 2020, which is an ongoing deliberation to know.
The ordained proposed changes to be made includes safer gambling, recommendations on consumer protections, and to further help with market integrity provisions and statutory protocols.
Ministry of Finance Accepts Recommendations
According to reports, the ministry of finance has accepted the proposed amendments imposed on the Gambling Act, which was also hitherto approved by Sweden’s Law Council. The assurance is that these recommendations will be approved into law no later than 1 July 2022.
The gambling Act recommendations state that; all gambling operators must announce any customer that deviates from the laid down-regulation, such as potential criminal activities, to the Swedish Regulatory Authority or the Swedish Police. Payment Service Providers PSPs will be made to sign, disclose or show information used in processing transactions for all unregistered companies providing gambling services in the Swedish Market or Jurisdiction.
Sweden Law Council Supports Recommendations
Also supporting the proposed recommendation is Sweden’s Law Council that the gambling inspectorate Spelinspektionen has laid out. The gambling inspectorate will give direct powers to approve financial payment blocks without court approval or warrants. The news is spreading as many organs support the development. The Swedish Sports Federation will also exercise power by allowing to process operator data or carry out any scrutiny into sports corruption and match-fixing in the region.
Left to be done now is that the European Commission EC must review the proposed recommendations to ensure that any changes do not interfere with European Union competition rules in the future.
Swedish Government seeks to finish the second stage of gambling market reforms ahead of Sweden’s General Election, which is scheduled to hold on 9 September.