GRA and Gambling Commissioner strengthen cooperation
The Gibraltar Regulatory Authority [GRA], as the Data Protection Commissioner, and the Gibraltar Gambling Commissioner [GGC] have signed a Memorandum of Understanding to facilitate co-operation and communication between both regulatory bodies.
Under the terms of the MOU, the GRA and the GGC have agreed to the exchange of information as they may consider beneficial in the exercise of their respective regulatory functions.
In particular, the MOU is intended to enable both regulators to identify and collaborate on areas of common interest, such as data security.
This will assist both the GRA and the GGC in their understanding of each other’s regulatory roles and responsibilities, while also providing them with a better understanding of underlying industry players and the challenges they face.
In a joint statement, the GRA and GGC said: “With the GRA’s commitment to addressing challenges surrounding privacy and data protection in the digital age, and the GGC’s mandate, which includes ensuring consistently high standards of operations for Gibraltar gambling licence-holders, this MOU represents a significant and positive step towards ensuring expected standards are met within both regulatory spheres.”
“Powered by technological innovation, gambling is increasingly shifting towards the online market, where the use of personal data has become increasingly crucial to businesses, often lying at the core of their operations and playing a vital part.”
“With this MOU, the GRA and GGC ultimately aim to improve their regulatory and supervisory practices whilst also identifying areas in which further guidance may be beneficial to industry players, so as to strengthen regulatory compliance, subsequently enhancing Gibraltar’s reputation as a leading jurisdiction with a modern and robust regulatory regime.”