Playtech Hires Ex-Gaming Regulator Francesco Rodano as Chief Policy Officer

Playtech, a leading technology services provider to the financial trading and gambling industries with 5,000 staff across 13 countries including its operated brokerage subsidiaries and businesses, has announced that Francesco Rodano has joined the company’s executive management team as Chief Policy Officer, according to an official company statement.

Mr. Rodano previously led online gaming Regulation Regulation Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority (FCA), the US’ Securities and Exchange Commission (SEC), Australian Security and Investment Commission (ASIC), and the Cyprus Securities and Exchange Commission (CySEC) are the most widely dealt with authorities in the FX industry.In its most basic sense, regulators help ensure the filing of reports and transmission of data to help police and monitor activity by brokers. Regulators also serve as a countermeasure against market abuse and malpractice by brokers. Brokers adhering to a list of mandated rules are authorized to provide investment activities in a given jurisdiction. By extension, many unauthorized or unregulated entities will also seek to market their services illegally or function as a clone of a regulated operation.Regulators are essential in snuffing out these scam operations as they prevent significant risks for investors.In terms of reporting, brokers are also required to regularly file reports about their clients’ positions to the relevant regulatory authorities. The most-recent regulatory push in the aftermath of the Great Financial Crisis of 2008 has delivered a material shift in the regulatory reporting landscape.Brokers typically outsource the reporting to other companies which are connecting the trade repositories used by regulators to the broker’s systems and are handling this crucial element of compliance.Beyond FX, regulators help reconcile all matters of oversight and are watchdogs for each industry. With ever-changing information and protocols, regulators are always working to promote fairer and more transparent business practices from brokers or exchanges. Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority (FCA), the US’ Securities and Exchange Commission (SEC), Australian Security and Investment Commission (ASIC), and the Cyprus Securities and Exchange Commission (CySEC) are the most widely dealt with authorities in the FX industry.In its most basic sense, regulators help ensure the filing of reports and transmission of data to help police and monitor activity by brokers. Regulators also serve as a countermeasure against market abuse and malpractice by brokers. Brokers adhering to a list of mandated rules are authorized to provide investment activities in a given jurisdiction. By extension, many unauthorized or unregulated entities will also seek to market their services illegally or function as a clone of a regulated operation.Regulators are essential in snuffing out these scam operations as they prevent significant risks for investors.In terms of reporting, brokers are also required to regularly file reports about their clients’ positions to the relevant regulatory authorities. The most-recent regulatory push in the aftermath of the Great Financial Crisis of 2008 has delivered a material shift in the regulatory reporting landscape.Brokers typically outsource the reporting to other companies which are connecting the trade repositories used by regulators to the broker’s systems and are handling this crucial element of compliance.Beyond FX, regulators help reconcile all matters of oversight and are watchdogs for each industry. With ever-changing information and protocols, regulators are always working to promote fairer and more transparent business practices from brokers or exchanges. Read this Term for the Italian Gambling Regulatory Authority, AAMS (Agenzia delle Dogane e dei Monopoli), and in 2008 won IMGL’s Regulator of the Year award during his nearly 9-year tenure regulating the country's substantial gaming industry.

The new world of Online Trading Online Trading Online trading represents the trading of fiat currencies, digital currencies, commodities, stocks and indices, where traders and investors intend to make a profit, via the purchase or sale of the aforementioned products. This is done through an electronic network, made accessible by brokers in the form of an online trading platform or hub.Online trading continues to see a rapid growth year on year, due to a number of reasons. Firstly, the number of brokers offering their services, with more money being spent on advertisements and sponsorships to attract potential traders. Secondly, more traders are aware of the ease in applying for online accounts; the low barrier to entry now means a trader only needs to deposit virtually as little as one wants in order to places trades. Thirdly, the improvement of financial technology, better performing hardware and software, leading to quick and consistent execution, which in turn is helped by higher liquidity, and reduced trading costs such spreads and commissions, have fueled the retail trading industry immensely. How to Trade Online?Before the emergence of the Internet, traders would have to place trades over the phone, which could be rather cumbersome, especially if one wanted to place multiple trades in a short space of time. Indeed, online trading has opened a new field of trading in the form of foreign exchange scalping, whether manually, or by way of automated trading robots. An example of online trading is the trading the foreign exchange market with a forex broker, using a platform which the broker will provide. The trader installs the platform on their computer, and they are given the information and tools needed to start trading. The most common online retail platform for forex trading is known as MetaTrader 4 (MT4). Online trading represents the trading of fiat currencies, digital currencies, commodities, stocks and indices, where traders and investors intend to make a profit, via the purchase or sale of the aforementioned products. This is done through an electronic network, made accessible by brokers in the form of an online trading platform or hub.Online trading continues to see a rapid growth year on year, due to a number of reasons. Firstly, the number of brokers offering their services, with more money being spent on advertisements and sponsorships to attract potential traders. Secondly, more traders are aware of the ease in applying for online accounts; the low barrier to entry now means a trader only needs to deposit virtually as little as one wants in order to places trades. Thirdly, the improvement of financial technology, better performing hardware and software, leading to quick and consistent execution, which in turn is helped by higher liquidity, and reduced trading costs such spreads and commissions, have fueled the retail trading industry immensely. How to Trade Online?Before the emergence of the Internet, traders would have to place trades over the phone, which could be rather cumbersome, especially if one wanted to place multiple trades in a short space of time. Indeed, online trading has opened a new field of trading in the form of foreign exchange scalping, whether manually, or by way of automated trading robots. An example of online trading is the trading the foreign exchange market with a forex broker, using a platform which the broker will provide. The trader installs the platform on their computer, and they are given the information and tools needed to start trading. The most common online retail platform for forex trading is known as MetaTrader 4 (MT4). Read this Term, fintech and marketing – register now for the Finance Magnates Tel Aviv Conference, June 29th 2016.

Thanks to his professional achievements and his personal stature, Francesco has become a highly influential figure in the international online gambling arena.

New Chief Policy Officer

Commenting in a corporate statement regarding the new appointment, Mor Weizer, CEO of Playtech, said: “Thanks to his professional achievements and his personal stature, Francesco has become a highly influential figure in the international online gambling arena. We’re delighted he has chosen to join Playtech and I’m sure he will provide an invaluable contribution to the further growth of the company.”

As part of his new role that will be based in London, Mr. Rodano will report to Playtech’s CEO, and will advise the company's executives on governmental policies while engaging with policy-makers at the local, state and national and EU Level.

Mr. Rodano served as Head of Remote Gaming while at AAMS, building related regulatory and compliance expertise for remote gaming which is done online, among other skills developed during that role.

Ex-Regulator of the Year

Mr. Rodano has been a member of the European Commission’s Group on Gambling Services since 2012, and during his work as a regulator with AAMS in Italy he helped to enact reforms across the country’s regulatory framework helping to attract over 100 licensees to its local markets.

His related regulatory reform work included poker in 2008 and casino games in 2011, and he was responsible for a range of regulated gaming segments including sports and horse betting, skill games, bingo and lotteries, according to a LinkedIn profile description

In addition, the announcement described that during Mr. Rodano work as a regulator, Italian gross gambling revenues had grown to over €800 million, helping to set an example as a successful case study for other regulators looking at regulating gaming markets.

After many years spent as a regulator, I’m excited to move to the industry side and to join Playtech at a time when focus on regulated markets is a global priority.

From regulator to private sector

Mr. Rodano will help develop new relationships for the company while supporting existing connections with institutional organisations and stakeholders on a global level, except for in Italy (apparently to avoid any potential conflict of interest from his prior work in the country).

Mr. Rodano commented in a statement regarding his new position at Playtech: “After many years spent as a regulator, I’m excited to move to the industry side and to join Playtech at a time when focus on regulated markets is a global priority. Playtech has a talented and respected management team and I am really looking forward to supporting them on public policy matters.”