The Isle of Man Gambling Supervision Commission (GSC) has appointed Gregory Petts as the organisation’s new chairman.
Petts will be tasked with upholding “the highest standards of regulation within the gambling sector, ensuring accountability and oversight to ensure that the GSC balances the needs of the sector with the safety of the jurisdiction”.
The new chairman first joined the GSC back in July 2020, serving as a gambling supervision commissioner.
He previously spent 13 years as senior director of internal audit at The Stars Group between October 2006 and April 2020, which followed a stint as UK head of audit for global home loans at Countrywide Financial Corp from November 2001 to July 2006.
Petts also worked as a senior manager at PriceWaterhouseCoopers (PWC) between 1987 and 1997.
A GSC statement read: “Mr Petts is a chartered accountant and auditor with experience in the gambling, finance and life assurance sectors and has been part of the Commission for five years.
“His invaluable experience in internal audit, governance, risk and compliance will support the GSC in its regulatory duties.
“The GSC is committed to maintaining international standards through collaborative efforts and investment in the necessary resources to effectively identify and respond to money-laundering, terrorist financing and proliferation financing threats.”
On his appointment, Petts said: “It is essential to strike a balance, maintaining responsible growth of the sector and continuing to uphold a strong regulatory framework.
“Maintaining the Isle of Man’s international reputation as a trusted and respected jurisdiction is of the utmost importance.”
Petts’ appointment comes shortly after the GSC named Nicola Libreri as its new deputy CEO in April.
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The post Isle of Man regulator promotes from within to name new chairman first appeared on EGR Intel.
Gregory Petts takes on the role with the Isle of Man Gambling Supervision Commission after five years with the organisation
The post Isle of Man regulator promotes from within to name new chairman first appeared on EGR Intel.