SectorWire
SearchGet the daily briefing
Menu

Brazil assigns SPA oversight of illegal betting flows under decree

Regulation

Brazilian President Luiz Inácio Lula da Silva signed a decree on 19 June assigning the Secretariat of Prizes and Bets (SPA) responsibility for defining and supervising the illegal betting market. The SPA will notify financial institutions to block funds linked to illegal operators, while the decree also requires retroactive tax payments; the Central Bank will oversee compliance by financial institutions.

The decree clarifies which authority oversees illegal betting payments and establishes financial blocking and tax obligations.

Request a correction

Keep reading

Regulation

Brazilian agencies report no impact studies on betting ban

Brazil’s Planning Ministry, Federal Revenue study centre and Civil Office reportedly disclosed that they had no impact study or estimate on the betting prohibition. The responses covered assessments of the policy and, in the Revenue centre’s case, documents produced after the measure was published.

Brazil's Planning Ministry, the Federal Revenue's tax and customs studies centre (CETAD) and the Civil Office of the Presidency did not present any study, technical note or impact estimate of the betting prohibition, according to the report. Their responses came to freedom-of-information requests that were filed on 20 September.

Continue reading