MPs voice their concerns regarding new Curaçao gaming law
Several MPs state draft LOK is “far from complete” as the island nation’s Bar Association also airs worries over impact on lawyers
Curaçao MPs and Bar Association have expressed concerns over the current draft of the incoming Gambling Ordinance for Games of Chance (LOK) as the island nation continues to push ahead with its new-look regulatory framework.
These concerns were raised following the Curaçao Advisory Council’s assessment of the draft document, authored by the Minister of Finance Javier Silvania, an assessment which was received by the minister in June 2023 but only made public on 3 January 2024.
Among its advice to Silvania, the council said that while he has spoken verbally of a transitional phase for licensees between the old regime and the LOK, a written explanation was not provided in the draft and needed to be included for clarity.
The council also said it was unclear to what extent the LOK complies with the Financial Action Task Force’s (FATF) anti-money laundering package, which was implemented in 2012.
Overall, the advisory body felt that many elements of the LOK were incomplete and unclear and should not have been submitted to parliament in its current form.
Despite this advice being delivered in June, Silvania presented LOK to parliament last month, which should bring about a new era for the island.
As reported by local media, several individual MPs have also taken umbrage with the LOK.
Steven Croes, MP for the Real Alternative Party (PAR), and Steven Martina, MP for the Partido MAN, both said they felt the basis of the LOK is “far from complete” and has “confusing formulations” included within it.
Sheldra Osepa, MP for the National People’s Party (PNP), and Quincy Girigorie of PAR both stressed that the LOK must not be rushed through as errors could potentially damage the existing online gaming sector on the island.
The Curaçao Bar Association has likewise raised serious objections over the LOK draft and has written to Parliament with their concerns.
In the letter, submitted to Parliament on 18 December, the association noted that the proposed accreditation for lawyers, as outlined in the framework, would undermine the independence of lawyers and violate current legislation.
The LOK draft proposes that the new regulator, the Gaming Control Authority, will grant accreditations to legal service providers, which, the association said, would fly in the face of a law firm’s professional independence.
The Bar Association argued that lawyers are not legal entities and therefore the text within the LOK is flawed. It added that the new regulator should not be allowed to assess an individual lawyer’s competence or subject them to restrictions and regulations.
The LOK, which is set to completely overhaul the way gambling is regulated in Curaçao, was first brought to public attention in June 2023.
Silvania said the aim of the new law bring it in line with other countries is so that the island is no longer known as “the red-headed stepchild of the gambling industry”.
Some key elements contained within the new reforms were revealed by the minister in June, with the formation of a new gambling regulator at the front and centre of the new legislation.
Under the new law, the new gambling regulator will hold several powers that will not just prevent but also mitigate against any unwelcome and unlawful activities.