Last Wednesday, the director ofthe the Isle of Man Gambling Supervision Commission and the director of the Dutch Games of Chance Authority (“KSA”) have expressed their intention to join forces by signing a Letter of Intent (“LoI”).
The LoI offers a regulatory framework for further cooperation in the field of cross-border supervision, consumer protection and to streamline the license granting process for cross-border operators. In view of the upcoming Dutch licensing system for which the KSA is currently making necessary preparations, Isle of Man – as one of the leading jurisdictions where remote gambling is concerned – is an interesting party for the KSA to work more closely together with, KSA stated in a press release.
The LoI forms a prelude to a Memorandum of Understanding. This cooperation agreement will include e.g. arrangements based on reciprocity with respect to the exchange of data between the authorities and the exercise of cross-border supervisory powers.