Ireland puts fines first in regulatory update

Ireland, fines, first, regulatory update
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The Irish government has stated that the country’s newly proposed gambling authority will be granted the power to impose seven-figure fines on operators who disobey upcoming regulations.

Despite the legislation currently having no date of enactment, junior justice minister David Stanton has drafted a bill to expand the reach of the regulator in order for it to levy million Euro fines.“The regulator will have to be able to impose penalties that are strong enough to have an impact,” said Stanton.
The proposals are part of legislation aimed at founding an independent regulatory body with a staff of 100 officers, designed to oversee the protection of vulnerable gamblers, collect government revenue, advise on best practice and wield the power to shut down rogue operators not adhering to proposed governance.
The Irish gambling industry is currently valued at E8bn, however it remains one of the last EU countries without a regulator, with much-anticipated and long- overdue regulation predicted to be enacted by the end of this year.


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