Appointment of Gregory Petts as GSC Chairman on Isle of Man
The Isle of Man Gambling Supervision Commission (GSC) has appointed Gregory Petts as its new Chairman. The executive, who brings significant experience and a proven track record, will spearhead the commission's efforts to maintain the highest regulatory standards and address emerging threats in the gambling sector.
Petts has spent the past five years with the GSC, where he has honed his skills in risk and compliance, governance, and internal audit. His expertise and deep understanding of the regulator's workings will serve him well in his new position.
Expressing his excitement about the appointment, Petts emphasized the need to achieve a balance between responsible growth and upholding stringent regulatory standards. Maintaining the Isle of Man's reputation as a trusted and respected jurisdiction is of paramount importance, he added.
As Commission Chairman, Petts will be instrumental in ensuring the sector's growth while adhering to the regulatory framework. His goal is to strike a balance between industry needs and jurisdictional safety requirements, promoting responsible growth and a strong regulatory structure.
Petts' appointment comes at a critical time for the GSC, as it navigates recent changes in leadership and operations. His role is expected to prioritize a balanced approach to regulation, addressing emerging threats such as money laundering, terrorist financing, and proliferation financing.
Petts' background as a chartered accountant and his experience in the gambling, finance, and life assurance sectors make him the ideal fit for the role. The GSC anticipates his guidance to be essential in driving the commission's commitment to meet international standards and collaborate effectively to achieve this goal.
As Commission Chairman, Petts will aim to foster growth in the casino-and-gambling sector while maintaining the highest regulatory standards, ensuring the Isle of Man's reputation as a trusted jurisdiction. His regulatory efforts will prioritize a balance between industry needs and safety requirements, addressing emerging threats such as money laundering, terrorist financing, and proliferation financing, in accordance with the established regulations surrounding gambling.
