The Kansspelautoriteit (KSA) – the Dutch governmental gambling regulator – has presented renewed protocol for auditors that assure license applicants. Login Casino follows the latest legislative news in gambling, explaining what has changed for the operators and auditors that apply for the Dutch license.
The upcoming approval of the Dutch gambling law for the online sector goes in parallel with the changes in the legislative requirements. This time the regulator decided to simplify the audition procedure and take on some part of the responsibilities.
Thus, the primary element that changed relates to the auditors that assure compliance with the applicants' financial requirements. While they will use traditional 4400N protocols for approval, auditors now don't need to express an opinion and conclusion related to the findings. Now, this function goes to the KSA as the licensing body that makes the final decision.
What does it mean in practice?
Now auditors have to check all the needed financial requirements and fulfill the appropriate protocols' factual side. For instance, the auditor checks only the issues of bankruptcy, moratoriums, and assets credibility of the applicant and fulfills the necessary data in the report.
The flipside of auditors’ work is related to the players' credits provision; the recent rules allow four cases of using such assets:
- Bank guarantees.
- Dutch third-party funds foundation.
- Third-party account.
- Another provision.
All those items are now available in the responsible documents attached to the renewed policies. Both applicant’s and player's directions are agreed with appropriate financial structures of the Netherlands, along with 4400N Standard.