Memorandum of Understanding means reciprocal recognition of licenses
The Kahnawake Gaming Commission and the Financial Services Regulatory Commission for Antigua and Barbuda, two sovereign online gambling licensing jurisdictions, have jointly announced a new working relationship.
The Memorandum of Understanding signed by the organisations this week builds on a previous agreement on the exchange of licensing information, and establishes a relationship through which an operator with a primary license in either of the two jurisdictions can apply to the other jurisdiction for inter-jurisdictional authorisation.
This means that the operator can be hosted in either jurisdiction, but will be regulated by the regulatory body that issued the primary license.
The holder of an “Inter-Jurisdictional Authorisation” will be entitled to be hosted in either jurisdiction, the statement notes. The regulatory body that issues the “Primary Licence” will regulate and supervise all of the operator’s activities within both jurisdictions.
The statement explains that the new MOU is designed to recognise the inter-connectedness of remote gaming regulators – providing operators an unprecedented degree of flexibility for their licensing and hosting needs – while respecting the independence and international obligations of each jurisdiction.
The agreement comes into effect 90 days from the date of signature, to allow each jurisdiction the time to complete the necessary amendments to its regulations.
In May this year The KGC inked a Memorandum of Understanding with the Alderney Gambling Control Commission, setting up an “…efficient and reasonable channel for the exchange of information and material with respect to past, existing and prospective licensees for the purpose of ensuring effective regulation between both jurisdictions.”
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