Following a recent announcement by Finance Minister Javier Silvania that the newly proposed gambling legislation had made its way into Curacao parliament, it appears to have experienced a serious setback during a central committee meeting earlier this week.
Several parliamentarians criticized the newly proposed National Ordinance on Games of Chance, also known as LOK, expressing their agreement with the advisory council that Minister Silvania should not have presented the law to parliament in this way, local media reported. The new draft rules were also criticized by the local Bar Association.
During the committee meeting, various members of parliament apparently voiced their concerns, expressed their opinion that the law is far from ready, and pointed out confusing formulations within it. Criticism was also levelled at the decision to establish the Curacao gaming authority as a foundation, with one parliamentarian arguing that the regulator should not be dependent on the government to avoid potential political influence. The conclusion was seemingly shared by the advisory council previously, but the Minister opted not to make any changes.
Law makers also criticised the fact that the draft law was evidently formulated without consulting all stakeholders, missing the perspectives of the Central Bank of Curacao and Sint Maarten. The advisory council urgently appealed to Minister Silvania not to present the bill to parliament in its current form and stressed the need to structure the online gambling sector carefully, with one member expressing concerns that the current state of affairs could harm the country’s eGaming sector. The new draft rules will be further discussed during another committee meeting at a subsequent date, where Minister Silvania is expected to respond to the questions raised during the session.
Not only has the proposed legislation faced apparent rejection in parliament, but the Curacao Bar Association has also expressed criticism and urgently submitted an objection to members of parliament. Within the objection, members articulate serious concerns regarding the proposed accreditation for lawyers outlined in the new draft. The Association is apprehensive that this accreditation could compromise the independence of lawyers and stand in opposition to existing legislation in the island state.
According to the LOK, the Curacao gaming authority is empowered to grant accreditations to legal service providers, including lawyers serving online gambling licensees. The Association is troubled by the potential imposition of an accreditation process on lawyers, which they argue contradicts their professional independence. Their objection underscores that lawyers are individuals, not legal entities, rendering the text of the LOK already inaccurate. Additionally, the Bar Association asserts that the gaming authority should not have the authority to evaluate lawyers’ competence or impose restrictions and regulations on them.
The objection also raises concerns about the proposed accreditation conflicting with Article 6 of the European Convention on Human Rights, safeguarding the right to freedom of choice of lawyer and a fair trial. There is apprehension that the accreditation may adversely affect the interests of online gambling licensees, as their lawyers could face restrictions not applicable to opposing legal representatives.
Furthermore, the Order emphasizes that, in accordance with the Lawyers National Ordinance 1959, the exclusive authority to assess lawyers and impose disciplinary measures rests with the Joint Court of Justice and the Supervisory Board of the Legal Profession.
To complete the trifecta of worries for the island state, the new Anti Money Laundering regulations have seemingly also not been discussed or progressed yet and appear to have missed a December 18 deadline in this regard.
That’s according to a report in local newspaper Antilliaans Dagblad, which points out the urgency of this matter in light of the upcoming Fourth Round Mutual Evaluation that is due to be carried out by the Caribbean Financial Action Task Force (CFATF), based on the FATF recommendations and the FATF methodology.
It quotes the advisory council tasked with progressing the matter as saying that failure to comply with international standards and FATF recommendations could have negative consequences for the integrity of the financial system of Curacao and, as a result, endanger the economy of Curacao.
