GSC New Leadership and Enhanced Information Sharing

The Isle of Man Gambling Supervision Commission ("GSC") has announced measures aimed at bolstering the island's regulatory framework and leadership within the gambling sector.

Appointment of New GSC Chairman

In a leadership transition, the Isle of Man Treasury appointed Gregory Petts as the new Chairman of the GSC on May 23, 2025. Mr. Petts, a Chartered Accountant and auditor with extensive experience in the gambling, finance, and life assurance sectors, has been a member of the Commission for five years. His expertise in internal audit, governance, risk, and compliance positions him well to uphold the GSC's commitment to high regulatory standards.

Mr. Petts emphasized the importance of balancing sector growth with robust regulation, stating, "It is essential to strike a balance, maintaining responsible growth of the sector and continuing to uphold a strong regulatory framework." He also highlighted the significance of maintaining the Isle of Man’s international reputation as a trusted jurisdiction.

Enhanced Information Sharing Provisions

On May 20, 2025, the GSC implemented the Permitted Disclosures Order 2025, expanding the scope of entities with which it can share restricted information. This move is designed to facilitate greater collaboration among public authorities, enhancing efforts to combat money laundering, terrorist financing, and proliferation financing (ML/TF/PF) activities. By enabling more comprehensive information exchange, the GSC aims to strengthen the island's defenses against financial crimes and ensure a more secure gambling environment.

Implications for eGaming Operators

These developments underscore the GSC's dedication to enhancing regulatory oversight and fostering a secure gambling environment. eGaming operators licensed in the Isle of Man should review and, if necessary, update their compliance frameworks to align with the new information-sharing provisions. Staying abreast of regulatory changes and ensuring robust internal controls will be crucial in maintaining compliance and operational integrity.

For more information on the GSC's recent announcements, you can visit their official news releases:

GSC Strengthens Information Sharing Provisions

Gregory Petts Appointed New GSC Chairman