Trinidad and Tobago has appointed members for the first board of its new Gambling Control Commission. Commissioners were given their instruments of appointment on Monday by Finance Minister Colm Imbert, local media reports.
“The Commission forms part of the regulatory framework which the Government has put in place to address the social concerns arising out of the proliferation of private member clubs providing casino-style games to the club members”, a media release made public on Tuesday said, according to Trinidad and Tobago Newsday.
The Commission is chaired by former senior government advisor on banking, auditing and AML Tang Nian, who will be supported by tech and cyber-securities expert Steven Thomas as Deputy Chairman. The regulator is completed by seven other experts as Commission members.
According to the Gambling Control Bill, passed last summer by the country’s Upper House, the Chairman and Deputy Chairman and two other members are each to be appointed for a term of four years. Three other members will serve for three years, and the remaining two for two years.
The bill’s language mandates all members must either have experience in the gaming sector, AML experience, be an attorney or have worked for at least five years in the fields of finance, information technology, management, social work or law enforcement.
The new regulator will be tasked with addressing social concerns arising from illegal gambling, including protecting minors from gambling, launching a fund for rehabilitation and safeguarding the country from gambling-related money laundering and financial crimes.
In addition to the creation of the Gambling Control Commission, the 2021 gambling legislation introduces other key changes, including a licensing regime for gaming and betting establishments; greater compliance and notification requirements; a new tax regime; and the establishment of the Rehabilitation Fund and Development Fund.
The text of the legislation explains the new Commission will be in charge of regulating and controlling gambling within the jurisdiction including that of licensees, inspecting premises where licensed activities are conducted, impounding or seizing gaming machines, documents and records for examination and inspection.
The regulator will also resolve disputes between licensees and consumers and provide information to other regulatory, supervisory and governmental agencies. The Commission also has the power to review licenses and the manner in which licensees carry on their business, and to suspend or revoke a license in certain situations.
It took over four years for the gambling reform to be complete, which was approved by lawmakers last June. A total of 24 senators voted in favor of the legislation, including nine independent senators, while six opposition lawmakers abstained.