Egba Likes Ep Vote For Single Set Of Eu Rules

EGBA LIKES EP VOTE FOR SINGLE SET OF EU RULES

11th March, 2014 at 14:26:10
Source: http://www.azonlinecasinos.com

Negotiations to resume in May 2014 following EP elections

The European Gaming and Betting Association (EGBA) said it salutes today's European Parliament (EP) vote supporting a single set of rules through the European Union ( EU).

Adopted by an overwhelming majority, the updated rules for the first time subject all gambling services to EU-wide rules for the prevention of money laundering while bringing greater legal security and consistency to online gambling operators offering their services across EU states.

The revised rules were initially presented by the European Commission in February 2013, followed by an intense debate by two parliamentary committees until last month.

The EGBA would like to congratulate the European Parliament for its vote on these revised rules," said Maarten Haijer, Secretary General of EGBA. "It confirms that online gambling is an inherent cross-border service which, in line with the subsidiarity principle, is better governed by one set of rules at EU level, rather than by 28 different national laws. These rules will further add to the existing body of Internal Market legislation applicable to the gambling sector.

According to the EGBA, the text as voted by the Parliament today, also states that Member States may be exceptionally entitled to exempt certain forms of gambling following approval by the European Commission.

If exemptions are to be granted, they will need to be risk-based and supported by clear evidence. The lack of cash money and the transparency and traceability of online gambling transactions in a regulated environment are great assets to mitigate potential risks of money laundering, Haijer added.

We are confident that the European Parliament now has a good basis to come to an agreement with the Council. We hope that the final text will be approved by all institutions by the end of the year as it is vital that the directive is transposed at national level as soon as possible.

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