Legislative Council to take evidence from finance and gambling regulators this week
A political member for Treasury says the Isle of Man is playing catch up when it comes to penalties for the gaming and finance sectors.
Gary Clueit is currently taking a bill through the Legislative Council to update the Island's gambling legislation.
The need for the legislation has been identified ahead of this year's MONEYVAL assessment, which will consider how well the Island's regulated sectors tackle issues like money laundering.
LegCo is due to take evidence from both industries' regulators at its sitting this week.
Mr Clueit says while regulations can be challenging, it's important for the Island's international reputation.
Tanya August-Phillips MLC was the member to call for the evidence session to take place.
Mr Clueit and Mrs August-Phillips have both been speaking to Manx Radio's Political Correspondent Phil Gawne:
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