Archived Insights

The UK's largest political parties have discussed the country’s impending gambling reforms at their annual conferences, as polling firm Survation reveals MPs and voters “overwhelmingly” support change.

The Hungarian central bank has issued a press release about Revolut which suggests that fintechs can only fully rely on the EU passporting system as long as they have a limited presence in a “host state.”

Some Europeans have welcomed the revision of the Payment Services Directive (PSD2); others believe that it has hampered progress. Consumers are not very aware of their rights to open banking and this remains a huge problem.

The Reserve Bank of New Zealand launches consultation on central bank digital currencies (CBDCs) and the Bank for International Settlements releases three new CBDC reports.

The Washington-based International Consortium of Investigative Journalists (ICIJ) has released yet another cache of leaked documents that illustrate the fondness of politically exposed persons (PEPs) for the offshore world. The 2.94 terabytes of data from it are expected to appear on the databases of financial crime software vendors the world over. The ICIJ claims that this is the largest cache of all.

Analysts have quizzed Kindred Group on when it might be able to get back into the Dutch market, as newly licensed operators struggled with a technical blunder.

Former William Hill US CEO Joe Asher was last week was appointed the new president of sports betting at IGT, and is not wasting any time warning the gaming industry about the hazards of excessive advertising.

More than two years after a report by California’s auditor criticized state gaming regulators over their licensing processes and fees not being aligned with their actual costs, a new report has outlined proposed changes to the state’s fee structure.

The fledgling German regulator makes a pair of senior appointments, FanDuel selects its permanent CEO and yet more trouble at the top for Crown Resorts.

The European Banking Authority (EBA) has answered further questions from the financial sector about the EU’s revised Payment Services Directive (PSD2).

A recent settlement of charges laid by a U.S. federal regulator against crypto-exchange Kraken strikes a note of hope for the crypto-industry, which has been the target of much regulatory animosity recently.

Potential sportsbook operators in Maryland have pushed back against draft regulations that would mandate the use of official league data for all types of wagers, as well as a potential cap on tax deductions for bonuses.

The UK government is being urged to treat harmful gambling as a public health issue, as a new Department of Health report estimates the cost to English society to be in excess of £1.27bn a year.

Major online gambling operators are starting to comply with Dutch government demands to leave the market until they get a licence, as a consumer agency pulls out of talks over a proposed gambling advertising code.

The city of Las Vegas is planning a somber commemoration today for 60 victims who died four years ago in the worst mass shooting committed by an individual in the history of the United States.

Indiana fines Penn over TikTok ad, Asher joins IGT's sports-betting wing and new state lotteries planned in Brazil.

The introduction of Directive (EU) 2015/2366 (revised Payment Services Directive, PSD2) in January 2018, despite new restrictions at the time, allowed for thousands of products and services to be offered to consumers via the limited network exclusion (LNE). However, this was not the intention of the LNE; as such, the European Banking Authority (EBA) has introduced the Consultation on Draft Guidelines on the Limited Network Exclusion under PSD2 to tighten the scope of exemptions to PSD2. Despite the tighter scope under these guidelines, there are still many ways for payment service providers (PSPs) to be exempt from strong customer authentication (SCA) requirements. Additionally, as the EBA cannot amend PSD2, PSD3 is likely to be needed to clarify any remaining inconsistencies.

The UK intends to bring its anti-money laundering regime into line with the latest recommendations from the Financial Action Task Force. This may not represent a big overhaul, but experts believe that financial institutions will probably feel the effects of a new Companies House reporting duty and cryptocurrency reporting requirements.

Kroll has just published the results of a global bribery and corruption survey that it conducted in March, which ought to be of use to all money laundering reporting officers (MLROs).

BaFin has fined N26 for anti-money laundering (AML) failures, while Banca d’Italia and ARPCSO have brought an experiment in cross-border, cross-currency, instant payments to a successful conclusion.

Churchill Downs Incorporated has announced the sale of the historic Arlington Park racetrack property in suburban Chicago to the NFL’s Chicago Bears for a potential new stadium featuring a sports-betting facility.