Online Casino Transfer: News - AAMS Now in Compliance

08/16/2010		Online Casino Style: News AAMS Now in Compliance
Home History Games News Dictionary		Since the liberalization of the Italian online gambling industry last year, the rush was on for well-known and start up internet casino companies to get a piece of the action. That sprint for licensing, it seems, meant a few corners cut for at least a few companies, errors made that have since been caught by the European Commission, resulting in a significant delay in processing them… as well as for the Italian regulator AAMS. Though they claim to have thought they were in compliance with laws and regulations laid out by the European Commission for the whole of the Union, to allow for fair and legal trade of goods and services across the continent, including online gambling products, AAMS has apparently now learned their lesson in regards to the implementation of rules for Italian operators and offshore companies advertising to Italy’s market. One of the biggest non-compliance issues being addressed by the Commission’s complaint were vetting requirements. A lawsuit was filed against AAMS by the giant Italian company Microgame, challenging the manner in which the regulatory body was dealing with licensing. In order to defend themselves, AAMS has been submitting piles of paperwork, documenting all of the laws that support their initial regulational platform. Final approval by the European Commission before the issue can be resolved, resulting in even further delays for applications by online gambling companies. A three-month period has been set aside, a freezing period for all applications until the regulations can be put in order. Online casinos will be among the last to go live once the new Italian laws go into place. A number of fresh new ideas have also been included in the new laws, such as a provision called the Carta dei Servizi, which will link the communication and resources for the regulators, players and operators together, hopefully creating an effective system of transparency. Minimum standards will be agreed upon by all bodies, as well as a universal service agreement. Punishments for non-compliance have been laid out in no uncertain terms, guaranteeing that all involved bodies are on the same page.

08/16/2010

Online Casino Style: News
AAMS Now in Compliance

Since the liberalization of the Italian online gambling industry last year, the rush was on for well-known and start up internet casino companies to get a piece of the action. That sprint for licensing, it seems, meant a few corners cut for at least a few companies, errors made that have since been caught by the European Commission, resulting in a significant delay in processing them… as well as for the Italian regulator AAMS.
Though they claim to have thought they were in compliance with laws and regulations laid out by the European Commission for the whole of the Union, to allow for fair and legal trade of goods and services across the continent, including online gambling products, AAMS has apparently now learned their lesson in regards to the implementation of rules for Italian operators and offshore companies advertising to Italy’s market.

One of the biggest non-compliance issues being addressed by the Commission’s complaint were vetting requirements. A lawsuit was filed against AAMS by the giant Italian company Microgame, challenging the manner in which the regulatory body was dealing with licensing.

In order to defend themselves, AAMS has been submitting piles of paperwork, documenting all of the laws that support their initial regulational platform. Final approval by the European Commission before the issue can be resolved, resulting in even further delays for applications by online gambling companies. A three-month period has been set aside, a freezing period for all applications until the regulations can be put in order. Online casinos will be among the last to go live once the new Italian laws go into place.

A number of fresh new ideas have also been included in the new laws, such as a provision called the Carta dei Servizi, which will link the communication and resources for the regulators, players and operators together, hopefully creating an effective system of transparency. Minimum standards will be agreed upon by all bodies, as well as a universal service agreement. Punishments for non-compliance have been laid out in no uncertain terms, guaranteeing that all involved bodies are on the same page.