The Swedish Ministry of Finance and Ministry of Health and Social Affairs have unveiled a proposal to bolster funding for two critical regulatory bodies: the Spelinspektionen (Swedish Gambling Authority) and the Finansinspektionen (Swedish Financial Supervisory Authority). This initiative aims to enhance supervision, combat illegal gambling, and strengthen cooperation with financial institutions.
Enhanced Funding for Spelinspektionen:
Under the proposal, the Spelinspektionen is set to receive increased funding in the following manner:
2024: SEK 10.8 million ($970,000)
2025: SEK 15.6 million
2026: SEK 18.6 million
This boost in resources will empower the Spelinspektionen to meet the requirements for joining the Macolin Convention effectively. The Macolin Convention, established on 1 September 2019, is a European treaty aimed at preventing, detecting, and penalizing match-fixing in sports competitions. Presently, 30 European states, including Norway, Portugal, Ukraine, and Moldova, are signatories to this vital initiative.
Statement by Niklas Wykman, Minister for Financial Markets:
Niklas Wykman emphasized the importance of robust consumer protection within the gambling market. He noted that the increased investment in the Spelinspektionen will enable more effective supervision. Additionally, closer collaboration with the Swedish Financial Supervisory Authority presents opportunities to disrupt payment transfers to and from illegal entities, a crucial aspect of combatting criminal activities.
Strengthened Financial Oversight:
The proposal also allocates SEK 4.5 million to the Finansinspektionen, promoting greater synergy with the Spelinspektionen. This collaborative effort seeks to enhance oversight and regulatory capabilities.
Statement by Camilla Rosenberg, Spelinspektionen Director-General:
Camilla Rosenberg stressed the significance of countering illegal gambling and match-fixing to ensure a safe and secure gambling environment for consumers. She expressed optimism about the proposal’s potential to strengthen supervision and underscored the importance of closer cooperation with the Swedish Financial Supervisory Authority.
The proposed increase in funding for the Spelinspektionen and the Finansinspektionen reflects Sweden’s commitment to fortifying its regulatory framework in the gambling and financial sectors. These measures aim to protect consumers, combat illegal activities, and foster greater collaboration between regulatory authorities and financial institutions. In aligning with the Macolin Convention and bolstering supervision, Sweden demonstrates its dedication to maintaining the integrity of its gambling industry and financial markets.