Summary
- The Isle of Man Gambling Supervision Commission has appointed Gregory Petts to the crucial role of Chairman.
- The executive possesses extensive experience and a proven track record.
- Led by Petts, the Commission will prioritize maintaining top regulatory standards while effectively addressing threats and fulfilling the needs of the gambling industry.
The Isle of Man Gambling Supervision Commission (GSC) has made a significant senior-level appointment. Late last week, the Commission confirmed that it has chosen Gregory Petts for the strategic position of Chairman.
Striking a balance between growth and upholding regulations is imperative
Petts has been appointed as the Chairman of the Commission after spending five years with the GSC. During his tenure, he played a crucial role and gained substantial experience in risk and compliance, governance, and internal audit. His extensive skill set, essential knowledge, and proven track record will undoubtedly assist him in his new position as Chairman. In a press release, Petts expressed his enthusiasm, as reported by Casino House Group News. He stated, It is important to strike a balance by fostering responsible sector growth while maintaining a robust regulatory framework. Additionally, the new Commission Chairman emphasized the importance of preserving the Isle of Man's international reputation as a trusted and respected jurisdiction.
The new Chairman is expected to play a major role in future GSC decisions
Petts, in his new role as Chairman, will be responsible for upholding the highest regulatory standards in the gambling sector. His efforts will primarily focus on strengthening accountability and oversight to ensure that the Gambling Commission (GSC) adopts a balanced approach, adhering closely to regulatory frameworks while addressing industry needs. With extensive auditing experience and professional credentials as a Chartered Accountant, Petts is exceptionally well-suited for this position. He brings valuable insights from his work in the gambling, finance, and life assurance sectors, making him an ideal candidate for the role. As Chairman, he will be instrumental in ensuring the GSC's commitment to international standards through effective collaboration and strategic resource allocation. Under his leadership, the GSC will also address significant challenges such as money laundering, terrorist financing, and proliferation financing.
