The Malta Gaming Authority (MGA) has taken a major step forward by repealing the “Guidance Note on the Impact of the United Kingdom’s Exit from the European Union”. Our decision is in line with the changes in the regulatory landscape brought about by the conclusion and publication of the EU-UK Trade and Cooperation Agreement.
The direction note was initially released to inform Authorized Persons of potential ramifications and to offer guidance during the chaotic Brexit period. However, the Guidance Note is no longer relevant to the current regulatory environment in light of the finalization and publication of the EU-UK Trade and Cooperation Agreement.
Legal Clarity Post-Agreement
Clarity on the legal framework governing the European Union and the United Kingdom’s relationship after Brexit was largely achieved by the EU-UK Trade and Cooperation Agreement. In order to promote commerce and investment, it contained the conditions that both sides must abide by. This Agreement supersedes all prior positions held by the Malta Gaming Authority, which is now bound by its provisions.
The Malta Gaming Authority revoked the Guidance Note as part of its commitment to upholding an accurate, transparent, and current legislative and regulatory framework. The authority’s commitment to making sure that its rules comply with the most recent agreements and legal requirements is demonstrated by this move. In addition to removing the out-of-date guidance, the repeal, as detailed in the Notice of Repeal, provides more clarification on the issues covered in the Guidance Note.
The post Malta Gaming Authority Clears Regulatory Landscape Post-Brexit appeared first on iGaming.org.