November 19, 2020
On 13 November 2020, the Gambling Commission published a revised version of the fifth edition of its guidance on the ‘Prevention of money laundering and combating the financing of terrorism’ (the “Guidance“).
While the revisions are not widespread, casino operators should be aware that the previous wording of paragraph 1.55 of the Guidance has been replaced in its entirety in order to better highlight the licence conditions within the Licence Conditions and Codes of Practice (the “LCCP“) that casino operators should take note of in conjunction with the Guidance. Paragraph 1.55 references certain pre-existing licence conditions as well as those that were either adjusted within or added to the LCCP on 31 October 2020 following a Commission consultation on information requirements and regulatory returns that ran from February to May 2020. By way of example, the Guidance stresses that casino operators should bear in mind:
- Licence condition 15.2.2(1d), which requires operators to report any actual or potential breaches by the operators of the requirements imposed under Parts 7 or 8 of the Proceeds of Crime Act 2002 or Part III of the Terrorism Act 2000.
- Licence condition 15.2.3(1), which places a similar obligation to report as above but in relation to actual or potential breaches of the Money Laundering, Terrorist Financing and Transfer of Funds (Information on Player) Regulations 2017.
In addition, a minor revision to paragraph 4.17 of the Guidance has been made such that there is now an express reference to licence conditions 15.2.3(2) and (3) of the LCCP, which were likewise introduced to the LCCP in October 2020 following the Commission’s consultation. Under those particular licence conditions, operators must, within 14 days of appointment, notify the Commission of the identity of individuals appointed as the ‘nominated officer’ and the officer responsible for the operator’s compliance with the Money Laundering Regulations 2017. Operators must also notify the Commission of the departure or removal of such individuals within 14 days of such departure or removal.
See here for Wiggin’s wider commentary in relation to appointments of a ‘nominated officer’ and the officer responsible for the operator’s compliance with the Money Laundering Regulations 2017.