14 June 2024 - GSC Enforcement Policy Outreach Session

The Isle of Man Gambling Supervision Commission (GSC) outreach session regarding updates to enforcement-related policies took place on the morning of 12 June 2024. A presentation on these policies was provided to industry stakeholders and partner agencies.

The meeting opened with remarks from Mr Steve Brennan, Chief Executive of the GSC, who spoke on the history of the sector and the evolution of the industry over the years.

Mr Brennan noted that The Financial Task Force sets the international standard, through 40 recommendations, by which the GSC must continually abide. Subsequently, the GSC has adopted a modern framework that represents current regulatory practice amongst its peers. The effective compliance of the GSC and its operators directly impacts the reputation of the Isle of Man as a whole jurisdiction.

“As the gambling sector matures and grows so do our expectations for compliance.” he concluded.

Mrs Nicola Libreri, Director of AML/CFT Inspections & Enforcement, focused on the journey to enforcement. It was highlighted that enforcement could take place at any point, however, it would more likely be an outcome of inspection. Mrs Libreri spoke about the responsibility for compliance lying with the licence holder and the joint responsibility we have as stakeholders in maintaining the safety of the jurisdiction. She iterated the steps that are undertaken before enforcement measures are considered and stressed the importance of identification and remediation of any deficiencies, and two-way communication.

Mr Nigel Boyde, Senior Inspector of Enforcement, then provided an overview of the policies, noting, “This is evolution, not revolution.” The GSC will continue to provide regulation in a balanced, open and transparent manner. Mr Boyde highlighted that the enforcement team has a suite of policies at its disposal but will only use these powers when absolutely necessary. “Our information gathering and investigative powers remain effective even if a licence is surrendered,” Mr Boyde noted.

The policies will come into effect on 30th June 2024 and will be accessible on the enforcement area of the GSC’s website.

The GSC encourages those who did not attend to view the presentation, which can be accessed via the link below

GSC Enforcement Strategy Presentation 

If you have any further questions please email them to us here - gscenforcement@gov.im