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Compliance Updates

Government of UK extends guidance to the Gibraltar-based business stakeholders

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UK govt provides guidance for Gibraltar stakeholders
UK guarantees Gibraltar's post-Brexit access for financial services and gaming.
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Following UK’s withdrawal from the EU, the government of UK extended their guidance to the  Gibraltar-based business stakeholders, for almost a year.  And the government of  United Kingdom released a statement with regard to Gibraltar’s financial services firms’ access to local markets until 2020. The British government is very much keen on assuring that the Gibraltar entities will be able to work in the UK for two more years.

The UK government declared that it will work in association with the Government of Gibraltar to fashion a replacement framework to endure beyond 2020 similarly based on shared, high standards of regulation, and enforcement of this regulation, and underpinned by modern arrangements for information-sharing, transparency and regulatory co-operation.

The results generated during 2017 reveal that Gibraltar is operating one of the strongest gaming markets at international level. As part of the United Kingdom, Gibraltar receives bets from British players. Recently, the Chief Minister of Gibraltar, Fabian Picardo, revealed that according to online casino operators’ reports, “60 percent of online bets made in the UK come though Gibraltarian companies.” The gaming law is so advanced in the territory that even cryptocurrencies have been legalised for betting platforms.

Both the governments have acceded to recognise the significance of enhancing the liaison on all the implication of the Brexit that are relevant to Gibraltar. “The UK has provided assurance that gambling operators based in Gibraltar will keep on accessing the UK market after we leave the EU in the same way they do now – and we are working towards an agreement of MOU which will enable closer working and collaboration between gambling regulators in Gibraltar and the UK. The UK is committed to working closely with the Government of Gibraltar towards transport arrangements post-EU Exit that support Gibraltar’s prosperity,” read the statement released by the government.

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Compliance Updates

Lord Allen of Kensington Appointed as the new Chair of the British Horseracing Authority

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Lord Allen of Kensington CBE is confirmed as the new Chair of the British Horseracing Authority.

As a highly experienced Chairman, and one of the most prominent business leaders of his generation, Lord Allen brings a wealth of experience to the role including in the financial and commercial sectors, Government, broadcast, international companies and global sports events.

He is due to assume his post on 1 June 2025 and will work closely with current Chair Joe Saumarez Smith in the months ahead of taking up the role to ensure a smooth transition.

Lord Allen is currently Chairman and Trustee of the Invictus Games Foundation and was Chairman of the Manchester Commonwealth Games in 2000-2003 for which he was awarded a CBE.

He oversaw London’s bid for the 2012 Olympics and was Board Director on the Organising Committee. His ability to deliver critical projects that made the Games such a success saw him knighted in 2012.

He was a Chief Adviser to the Home Office from 2006 to 2008. In 2012, he was appointed by Ed Miliband to the position of Chairman of the Management Board of the Labour Party. In 2013 he was made a Life Peer, taking the title Baron Allen of Kensington.

Lord Allen began a distinguished career in broadcasting and media with Granada TV in 1991 before going on to have senior roles in leading companies in the sector including EMI, Virgin Media and Endemol. He is currently Chairman of Global Media and Entertainment Limited.

He is currently Advisory Chairman to global independent investment bank Moelis & Company, Chairman of multinational infrastructure group Balfour Beatty PLC, and Chairman of e-commerce retailer THG (formerly The Hut Group).

Lord Allen said: “I am honoured to be appointed to the role of Chair of the British Horseracing Authority at this important time for the organisation.

“I look forward to building a strong relationship with the new CEO and the Board and all our stakeholders, delivering the vision of building the commercial and reputational aspects of the sector.

“My love of horses stems from learning to ride as a youngster and enjoying the sport of horseracing over many years.

“My knowledge, skills and experience from various sectors, including media and entertainment, and having led many regulated and sporting organisations will hopefully stand me in good stead to bring a fresh perspective to this incredible sport.”

Chair of the BHA Nominations Committee and the BHA’s Senior Independent Director, David Jones, said: “Lord Allen is a very experienced Chairman, and I am delighted that we have appointed a candidate of such outstanding calibre.

“His record speaks for itself and his impressive leadership skills, financial and commercial acumen, broadcast experience and an understanding of Government will bring a fresh and independent perspective to the BHA’s work.

“Combined with his wealth of experience in global sporting events, Lord Allen impressed the committee with his perceptive grasp of the challenges facing racing and will be a powerful advocate for the sport.”

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Compliance Updates

Veikkaus Fined €2.9M for Advertising to Minors

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In May 2024, Finnish Operator Veikkaus received a request for clarification from the Police Board about its advertising in connection with television programmes that are also watched by minors. The company responded to the clarification request and adjusted its operations in cooperation with the authority. As a result, Veikkaus’ advertising will no longer appear in certain programme environments.

Veikkaus has received a marketing ban from the Police Board dated 12 November 2024 enhanced by a fine. It refers to the clarification request from May and highlights the wrongly placed advertisement that happened in July as a violation. In addition to this, it brings out new perspectives on the placement of advertisements in connection with television programmes. They have now included new programmes aimed at adults, but may also be of interest to minors. Examples include popular Saturday night entertainment programmes.

“It seems that the Police Board may interpret the matter in a new and broader way. We have been in contact with the Police Board as soon as the decision was made and we are going through this issue with them. We need clarity so that we know how to act correctly,” Anu Kytö, sales and marketing director at Veikkaus, said.

“We are very sorry that, despite our joint development measures, our advertising has been seen in the advertising breaks of programs aimed at minors due to human error,” Kytö added.

Veikkaus’ advertising is bought in such a way that the target group is people aged 25 and over. The media office books and the television channel places the ads based on viewer profiles. The instructions have been reviewed together with the Police Board.

“Veikkaus has been buying TV advertising from us for years, with an age distribution set for the purchase: more than 70% of the program’s viewers must be adults. This is a jointly agreed model that has been valid for years and is known to the authorities. Now we are waiting for possible new instructions,” MTV’s commercial director Sauli Asikainen said.

The ban is valid for three months and its validity begins 30 days after notification. The Police Board imposed a fine of 2.9 million euros as an effect of the marketing ban.

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Compliance Updates

Snooker Player Mark King Banned for 5 Years for Fixing Match and Providing Inside Information

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English snooker player Mark King was handed a five-year ban on Friday after being found guilty of match-fixing and providing inside information in the latest corruption scandal to blight the sport.

The punishment for the 50-year-old King, who reached a career-high ranking of No. 11 in 2003, related to a match against Joe Perry at the Welsh Open played on Feb. 13 last year that was flagged following suspicious betting patterns.

King was suspended by snooker’s world governing body a month later and an independent disciplinary commission has ruled that he fixed the result of the match, while giving information to others about that match for betting purposes. He had denied the charges.

His ban ends after March 17, 2028, and King was also ordered to pay more than 68,000 pounds ($86,000) in costs.

“I have known Mark King since he was very young, he is a very experienced player who has enjoyed great success, and I am deeply saddened to read the finding in this case,” said Jason Ferguson, a former player who is now chairman of the World Professional Billiards and Snooker Association. “However, the integrity of this sport will always be our No. 1 priority.”

King had also been charged with fixing the outcome of a match against John Higgins played on Dec. 13, 2022, and for providing inside information on it. Those charges were dismissed.

The governing body said Perry and Higgins were not accused of any misconduct related to the case.

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