The Board of the Isle of Man Gambling Supervision Commission

The Isle of Man Gambling Supervision Commission (“the GSC”) is a Statutory Board.

The role and responsibilities of a Statutory Board and its members are set out in the Schedule 1 of the Gambling Supervision Act 2010. Appointments to the Board of the GSC are approved by Tynwald.

The Board of the GSC consists of not less than five people appointed by Treasury and approved by Tynwald. The Board currently comprises a Non-Executive Chairman and Non-Executive Deputy Chairman, the Chief Executive and a further four Non-Executive Members. The quorum of the Board is three Members.

When making appointments Treasury must ensure that at least one member of the Commission is an advocate, barrister or solicitor of at least five years’ standing, one member has experience of online business and one member has experience of gambling business.

A member of the Commission is appointed for a five year term and is eligible for reappointment on conclusion of that term.

Meetings are held monthly and the meeting dates are published on our website. They may also be held additionally on an ad hoc basis as required.

The constitution of the GSC and its functions are described in Schedule 1 to the Gambling Supervision Act 2001.

Corporate Governance

As the Island’s regulator for gambling and medicinal cannabis, the GSC is subject to challenge in carrying out its functions, and is financed partly out of public funds. These factors impose a strong responsibility on the GSC to demonstrate that it is acting properly at all times, in the same way that the GSC expects a similar behaviour from its regulated entities.

The GSC operates under a Corporate Governance Framework which incorporates the requirements of the Isle of Man Government Corporate Governance Principles and Code of Conduct  as well as the Government Code, specifically Part 6 which refers to the standards which apply to Statutory Boards, including importantly:

  • Conflicts of interest.
  • Confidentiality.
  • Collective responsibility.
  • The role of the Chair and the relationship with the Chief Executive.

The GSC is required to report annually on its compliance with the Government’s Code of Conduct, in the form of a Statement of Internal Control signed by the Chief Executive and submitted to the Chief Financial Officer.

Risk Management

The GSC’s internal risk management framework focuses on risks which affect its ability to achieve its statutory objectives and goals. The GSC considers the impact and probability of risks crystallising on an inherent and a residual basis after controls have been applied. An important part of the way in which the GSC manages risk is the assessment of residual risks against agreed risk appetite levels to identify those risks which are outside of appetite; this informs the GSC’s strategic aims and the prioritisation of its resources and is also a key driver of the work of the Risk and Control Committee, a committee of the Board. 

Members' Interests

It is important that the Members of the GSC have the necessary knowledge and experience of the gambling & medicinal cannabis industry to allow them to suitably discharge their duties. In order to attain the relevant knowledge and experience it is possible that, through their employment history, existing roles or other associations, Members have private interests which could result in a potential conflict of interest in matters to be considered or determined by the GSC.

For public confidence, it is important that the GSC’s regulatory action is taken in the light of full information and is unaffected by any improper influence. It is therefore important that any conflicts of interest that could or do arise are identified and effectively managed.

Memoranda of Understanding

The GSC has entered into a Memorandum of Understanding (“MOU”) with the Isle of Man Treasury. This MOU sets out the framework for co-operation between the Treasury and the GSC. In particular, the MOU establishes arrangements to ensure that the GSC is accountable to Treasury for its actions, and clarifies the circumstances in which liaison and dialogue could flow between both parties.

Accountability and Scrutiny

The Authority is accountable and subject to scrutiny in the following areas:

  • Tynwald: appointment of Members, Corporate Plan, annual report and new legislation;

  • Tynwald: the Chief Executive of the GSC is invited to appear before the Economic Policy Review Committee each year to provide oral evidence to the committee;

  • Government and Treasury: strategic objectives, legislative policy and proposals, budgeting and funding and financial controls over employee related costs;

  • Industry and public: consultation on regulatory and supervisory proposals;

  • Gambling Appeals Tribunal;

  • The GSC’s regulatory and supervisory approach is also subject to ongoing review by standard-setting organisations including the International Monetary Fund and MONEYVAL.

Transparency

The GSC is subject to the Isle of Man’s Freedom of Information Act 2015 (‘the Act’). The Act enables Isle of Man residents to submit requests for information about the GSC as described on the Isle of Man Governments' Freedom of Information website.

 

Finance

The GSC operates within a budget agreed with Treasury. The GSC’s revenue and expenditure is subject to an annual audit by the Government’s external auditors, and the GSC is subject to review by the Government’s internal audit department. The GSC publishes its financial statements each year as part of its Annual Report which can be found on our website here.