Following the 1st of January 2019, a new gambling law will gain effect in Sweden. In brief, the new legislation will strengthen consumer protection and require most gambling providers to acquire a license. The consumer protection essentially introduces mandatory registration of all gamblers and gambling may only occur in registered gambling accounts. The gambling providers will also need to enforce measures to protect gamblers against excessive gambling and additionally ensure that there are functions in place that help gamblers to reduce their gambling if needed. This follows from the duty of care towards consumers that is stressed in the new legislation. Applications for gambling licenses may be lodged with the Swedish supervisory authority following the 1st of August 2018. In order to obtain a license, a heavy amount of documentation must be provided (in Swedish) to the supervisory authority covering, inter alia, information regarding corporate governance, compliance functions, financial disclosure and more.
The supervisory authority will have access to an increased number of measures to enforce compliance and will furthermore be able to act against marketing measures of gambling providers that are deemed immoderate. Moreover, new rules on taxation and new criminal offences are introduced.
MarLaw can provide legal advice covering the whole process of acquiring gambling licenses and regulatory compliance. Contact us today!
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