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Gambling Commission Insists on Fund Segregation
Wednesday July 25,2012 : AGCC INSISTS ON FUND SEGREGATION IN AMENDMENT TO REGS
Commission revises licensee policies
The Alderney Gambling Control Commission has made amendments to Category 1 eGambling licensee regulations, amongst others, in a bid to rebuild its reputation following the Full Tilt debacle.
The Commission now expects licensees to hold registered customers' credits in an exclusively assigned bank account utilized solely for that purpose. Licensee's will be expected to deliver proof to the Commission both on demand and via a monthly report. However, a further amendment notes that exceptions may be made, at the discretion of the Commission, where "a person has provided a written guarantee".
Other amendments to the regulations that affect licensees include:
- An AGCC approved customer notification mechanism in the case of insolvency,
- An approved internal control system detailing each bank account holding funds standing to the credit of its registered customers.
The full text of the regulation amendments can be read at :
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Gambling News :
Amaya FY2016 Trading Update -
The Montreal-based Amaya online gambling group has issued a trading update covering FY 2016 and improving its forecast revenue and earnings numbers.
LeoVegas To Sponsor Leicester Tigers -
The agreement includes official partner accreditation, media space at Welford Road stadium and matchday tickets and VIP hospitality as well as two pitchside perimeter boards from the 2017/18 season and one for duration of the 2016/17 season.
Optima Information Services iShop -
Industry visitors to the recent TVC Bookmakers Trade Fair in Solihull, UK were much taken by Spanish betting technology firm Optima Information Services' iShop product, and the company went on to win the SBC Best Retail Betting Product award with it last month.
CAGAYAN CHIEF MOVES TO REASSURE LICENSEES -
Apparently $4 million is going into improvements of the Authority’s data centre in the Freeport at Cagayan, whilst another $3 million has been earmarked for an upgrade to data infrastructure located outside the Freeport.
New Massachusetts Online Gambling Bill -
It seems that every two years (give or take a few months) Massachusetts state Senator Bruce Tarr flights an online gambling legalization bill in the state Senate.
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