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Compliance Updates

Vixio PaymentsCompliance Forms Executive Advisory Board

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Vixio PaymentsCompliance, a provider of regulatory intelligence to the global payments industry, has held the first meeting of its newly formed Executive Advisory Board. Vixio established the Board to gain expert insight from a cohort of customers across the tech and compliance ecosystem to inform its product development and address challenges shaping the payments industry.

Chaired by Roseanne Spagnuolo, Vixio’s Chief Product Officer, the Board is composed of 10 senior executives and advisors from different segments of the industry, providing diverse perspectives on the market intelligence needs of legal and compliance professionals, strategic and corporate development leaders, and regulatory or government affairs executives.

The founding board members include:

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  • Jana Breitkopf, Managing Director, Mercedes pay USA
  • Georg von Brevern, SVP Compliance and Regulatory Global, SumUp
  • Amy Bobrow, Global Regulatory Compliance and Operations, Mastercard
  • Sylvie Calsacy, Global Head of Public and Regulatory Affairs, Worldline
  • Nikki Eagers, VP, International Payments Risk and Compliance, Elavon / US Bank
  • Ronnette Grant, Global Chief Compliance Officer, Google
  • Charles Grech, Interim Chief Executive Officer, Truevo
  • Ori Kissos, Director of Global Regulatory Compliance and MLRO, Tipalti
  • Johanna Vikström, Chief Risk and Compliance Officer, Trustly
  • Alison Wheatley, Global Head of Risk and Compliance, Thredd.

“Vixio has earned a reputation over 15 years for the strength of our content and value of our services. The formation of the Payments Executive Advisory Board will enable Vixio to receive unique input from industry experts to help us develop cutting-edge products and content, to support global compliance teams at a time of increasingly complex regulatory change,” Mike Woolfrey, CEO of Vixio, said.

“The PaymentsCompliance Executive Advisory Board will help facilitate a collaborative approach to designing regulatory solutions that directly meet industry needs in an increasingly global payments landscape. We look forward to sharing our collective knowledge and expertise to support the delivery of innovative regulatory tools and content which will help businesses remain at the forefront of their industry in a transparent and compliant manner and in turn better serve their customers,” said Nikki Eagers, VP, International Payments Risk and Compliance, Elavon / US Bank.

Compliance Updates

BOS Opposes Swedish Government’s Credit Card Ban

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On Friday, the government came out with a proposal to ban the use of credit cards for gambling. The government is thus going against its own state investigation into the matter, the so-called Over-indebtedness Inquiry.

In a previous opinion, BOS has supported the Over-indebtedness Inquiry’s conclusion to continue allowing credit cards for gambling.

“It is sad that the government does not listen to its own expertise and instead proposes a ban on credit cards when gambling, contrary to what the government investigation has concluded. Interestingly, the government does not propose a corresponding credit card ban for the purchase of alcoholic beverages, which in Sweden is only offered by a retail monopoly owned and operated by the government itself,” Gustaf Hoffstedt said.

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“The government is handing yet another competitive advantage to the unlicensed gambling market, which has a 41% market share when it comes to online casino. The risk is great that unlicensed gambling will overtake and gain a larger total market share than licensed gambling in 2024. The government needs to change focus and show that it is on the same side as the licensed gambling companies and the safeguarding of consumers,” Gustaf Hoffstedt added.

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Compliance Updates

James Blake Fined for Breaching Tennis Sponsorship Rules

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Miami Open tournament director and former top 10 player James Blake was fined $56,250 for violating tennis’ rules about betting sponsorship, the International Tennis Integrity Agency announced Wednesday.

The London-based ITIA said the violation was unintentional and Blake “cooperated fully with the investigation and did not contest the charge”.

If Blake breaks the rules again during an 18-month probationary period that began on Feb. 9, the agency said he would be subject to an 18-month suspension and an additional fine of $131,250.

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The TACP rules state that: “No Covered Person shall directly or indirectly, facilitate, encourage and/or promote Tennis Betting (Facilitation).”

Karen Moorhouse, CEO of the ITIA, said: “Across our members – the ATP, WTA, ITF and Grand Slams – the rules prohibit accredited individuals from having commercial relationships with betting companies.

“This case is more a matter of perception, rather than corruption. The rules apply to players, coaches, officials and accredited tournament staff – who all have the ability to influence results or have access to inside information.

“We urge anyone in the sport who is unclear or is considering commercial deals like this to get in touch with us to seek guidance.”

The ITIA is an independent body established by its tennis members to promote, encourage, enhance and safeguard the integrity of professional tennis worldwide.

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California

California Gambling Control Commission Announces Comprehensive Agenda for Upcoming Meeting

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The California Gambling Control Commission (CGCC) has officially released the notice and agenda for its forthcoming commission meeting, set to take place on Thursday, March 7, 2024. In a move to accommodate participants from various locations and enhance accessibility, the CGCC has announced that the meeting will be held both in person and via tele/video conference.

The primary location for the in-person meeting will be at the CGCC’s headquarters in Sacramento, located at 2399 Gateway Oaks Drive, Hearing Room 100 on the first floor. Additionally, satellite locations have been established to cater to attendees in Northern and Southern California, including the Judicial Council of California’s Milton Marks Conference Center in San Francisco and the Carolyn Owens Community Center in Chino, respectively.

For those unable to attend in person, the commission is providing a Zoom link (https://zoom.us/j/2857578614) and a toll-free call-in option (1-888-475-4499, Meeting ID: 285 757 8614), ensuring widespread participation. The CGCC emphasizes that public participation is strongly encouraged, recommending virtual attendance through Zoom for convenience, although in-person attendance is welcomed, particularly at the Sacramento primary location.

The agenda for the meeting is packed with critical discussions and deliberations, starting promptly at 10:00 a.m. Key items include the approval of meeting minutes, consideration of initial and temporary licenses for third-party proposition player services employees, and key employee findings of suitability in line with tribal-state gaming compacts. The meeting will also address renewal applications for key employee licenses and commission work permits among other consent calendar items.

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This comprehensive meeting underscores the CGCC’s dedication to transparency and public involvement in its regulatory duties. It offers an opportunity for professionals in the gambling sector, stakeholders, and the general public to engage directly with the commission’s activities and decisions affecting the gambling landscape in California.

For more details on the agenda and how to participate in the meeting, please visit the CGCC’s official website at www.cgcc.ca.gov.

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