The Kahnawake Gaming Commission (KGC) and Financial Services Regulatory Commission for Antigua and Barbuda (FSRC) announced today that they have signed a Memorandum of Understanding (2010 MOU) that establishes an innovative regulatory relationship between the two Commissions.
The 2010 MOU builds and expands on the relationship first established between the KGC and the FSRC when in 2005 they signed a Memorandum of Understanding (2005 MOU) that facilitated the exchange of information regarding their respective licensees.
The 2010 MOU will enable a process under which an operator that holds a “Primary Licence” in either jurisdiction can apply to the other jurisdiction for an “Inter-Jurisdictional Authorization”. The holder of an “Inter-Jurisdictional Authorization” will be entitled to be hosted in either jurisdiction. The regulatory body that issues the “Primary Licence” will regulate and supervise all of the operator’s activities within both jurisdictions.
The 2010 MOU is designed to recognize 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 2010 MOU comes into effect 90 days from the date of signature, to allow each jurisdiction the time to complete the necessary amendments to their regulations.
The Mohawk Territory of Kahnawake is a sovereign jurisdiction located just outside Montreal, Quebec, Canada. The Kahnawake Gaming Commission was established in 1996 and has been continuously licensing and regulating online gaming since July, 1999 – longer than almost any other jurisdiction in the world.
Operators that are licensed by the Commission host their equipment at Mohawk Internet Technologies, a world class ISP and data centre located within the Mohawk Territory of Kahnawake: www.mohawk.ca
About Antigua and Barbuda Financial Services Regulatory Commission
Antigua and Barbuda, Financial Services Regulatory Commission (FSRC) was established in 2002 following a series of amendments to the International Business Corporations Act, Cap 222, as amended.
The FSRC license, regulate and supervise a range of financial services and activities, to include interactive gaming and interactive wagering. The legal and regulatory framework for internet gaming companies is provided in the International Business Corporations Act, Cap 222, as amended, the Interactive Gaming and Interactive Wagering Regulations, 2007 and the ancillary control systems guidelines.
The jurisdiction’s gaming regulatory model is founded on five distinct pillars: prevention of money laundering and terrorist financing; licensee integrity, transparency and accountability; and, above all, safeguarding the interests and well-being of the players.
On November 21, 2008, the United Kingdom formally designated Antigua a trusted, “white listed” jurisdiction, a designation that recognizes the jurisdictions robust licensing and oversight controls. The white-listed status enables Antiguan licensees to advertise their gaming services within the UK. In December 2009 the jurisdiction was white-listed after having substantially implemented the internationally agreed tax standards of the Organization for Economic Co-operation and Development (OECD)