Insights Archive

September 28, 2021

BNPL Regulation To Come To Ireland

The Irish Consumer Protection (Regulation of Retail Credit and Credit Servicing Firms) Bill 2021 is proposing to give the Central Bank of Ireland the power to regulate all buy-now-pay-later (BNPL) activities.

September 28, 2021

UK’s Taskforce Proposals for Payments Regulations and Data Protection

This analysis outlines key proposals in relation to payments and data protection following the Taskforce on Innovation, Growth and Regulatory Reform independent report, released on July 16, 2021, to address how the UK can seize new opportunities from Brexit. It aims to put the proposals in the context of wider developments taking place in UK payments regulation.

September 28, 2021

News In Brief - September 28, 2021

The UK's Payment Systems Regulator is satisfied that the Current Account Switch Service (CASS) still justifies its classification as an alternative switching scheme. Meanwhile, U.S. President Joe Biden has reportedly picked a fierce critic of cryptocurrencies as the new head of the OCC.

September 28, 2021

Should Payment Firms Rely On Gatekeepers For AML Compliance?

From time to time, payment firms rely on so-called gatekeepers — accounting and legal firms that give businesses access to the financial system — to provide them with background checks on customers and other forms of anti-money laundering (AML) information. The Office for Professional Body AML Supervision has, however, determined that these gatekeepers are not particularly well-regulated.

September 28, 2021

Move Away From Other Business, Yi Gang Tells Chinese Payment Firms

China's regulators are striving to strike a balance between encouraging fintech development and offsetting financial risks, with the separation of payment firms and other types of business uppermost in their minds.

September 28, 2021

U.S. Senator Asks SEC To Be Clear About Cryptos

A U.S. senator has sent a strong message to the Securities and Exchange Commission (SEC) about the extent of interest in various topics related to digital assets.

September 28, 2021

India's Kerala High Court Overturns Ban On Online Rummy

The High Court for southwestern Kerala state has struck down a state government ban on online rummy, a vindication for India’s gaming industry as it moves to fight a similar ban in neighbouring Karnataka state.

September 28, 2021

Former Gambling Regulator Calls On Poland To Reform Tax

Poland’s former finance minister has joined calls for the country to start taxing gambling companies based on revenue, instead of the current turnover model.

September 28, 2021

Ontario's Online Opening Breaks New Ground In Canadian Gambling Market

Ontario is weeks away from establishing Canada’s first online gambling licensing regime, although key policy questions still remain for a market that will be unique in North America.

September 28, 2021

Scientific Games Sells OpenBet To IMG Arena Owner for $1.2bn

Scientific Games announced on Monday that Endeavor would purchase its OpenBet business, capping a three-month process to divest its sports-betting division.

September 28, 2021

Czech Industry Self-Regulating After Government Analysis

A trade group in the Czech Republic representing nearly the entire licensed gambling market has embarked on a new sweeping harm reduction project, as the Ministry of Finance continues to push for more comprehensive online and advertising restrictions.

September 27, 2021

News In Brief - September 27, 2021

Sweden's financial regulator has diverged from the European Banking Authority's new anti-money laundering guidelines.

September 27, 2021

EU Data Supervisor Suggests AML Improvements

The EU’s data protection supervisor has struck a note of caution on the trading bloc’s newly-proposed anti-money laundering (AML) law.

September 27, 2021

China Clamps Down On Crypto Transactions

The People’s Bank of China, which regulates the banking sector of the world’s second largest economy, has declared on its website that all cryptocurrency transactions are illegal.

September 27, 2021

Ripple To Help Bhutan Fulfil Plans For CBDC

The Royal Monetary Authority of Bhutan has announced that it will be using Ripple’s blockchain technology to run its pilot scheme for a central bank digital currency.

September 27, 2021

Caesars NHL Jersey Ad Worries Responsible Gambling Advocates

Just over a month after the National Hockey League’s board of governors approved advertisements on players’ jerseys, beginning with the 2022-23 season, the Washington Capitals on Friday became the first franchise to announce a betting company as its jersey sponsor.

September 27, 2021

Finnish Parliament Finally Receives Lottery Act Amendments

Finland’s long-anticipated Lottery Act amendment was submitted to parliament on September 23, confirming the government's intent to bolster the country’s monopoly system.

September 27, 2021

Bolton Wanderers Cuts Gambling Ties

Another UK football team is cutting all ties with its gambling sponsors and partners, as talks of an impending shirt sponsorship ban and changes to the “white label” system populate the national media.

September 27, 2021

Tribal Gaming Conflict In Carolinas Proves Politics Makes Strange Bedfellows

A Democratic congressman who may be the person most responsible for the election of Joe Biden as President of the United States has introduced a bill to help a South Carolina tribe build a casino-resort in North Carolina.

September 24, 2021

Compliance With Data Access Requests - The Challenges

A business has to overcome numerous challenges when it receives a request for access to personal data and it has a short time in which to comply. However, if it makes a genuine endeavour to do so, its data protection regulator may be lenient towards it.

September 24, 2021

FCA Pins Hopes For Efficient Compliance On Blockchain

Regulatory reporting on the blockchain could ensure that compliance checks happen in real time, the chief executive of the UK’s Financial Conduct Authority (FCA) has said.