In America, four Republican members of Congress have written a letter to the heads of the Federal Reserve Board and US Treasury asking that a more ‘deliberative’ approach be taken in crafting regulations for the implementation of the Unlawful Internet Gambling Enforcement Act (UIGEA).
In the letter, Illinois’ Judy Biggert joined Pennsylvania’s Jim Gerlach, Connecticut’s Christopher Shays and California’s Kevin McCarthy in urging that a formal definition be finalised for ‘unlawful Internet gambling’ before any rules are placed into effect.
“Simply put, we believe that it is possible that if UIGEA law and regulations are implemented with the vague language we described above, a judge may be eventually required to answer the question of ‘what is unlawful Internet gambling?’, read the letter.
“It makes fiscal sense to resolve this question before saddling the public, regulated industries, small businesses and courts with uncertain UIGEA law and regulation.”
The letter was addressed to Henry Paulson, Secretary of the Treasury, and Ben Bernanke, Chairman of the Board of Governors for the Federal Reserve System, and represents the first open Republican split over the implementation of UIGEA. They also asked that the current rulemaking procedure be formalised under the purview of an Administrative Law Judge and that a Regulatory Flexibility Analysis be conducted on UIGEA's true financial burden on affected businesses.
“We voted for UIGEA and support it now,” read the letter.
“As such, we have resisted legislative efforts, which may have the effect of delaying interminably the implementation of UIGEA and its regulations. However, we are concerned about the legal and operational viability of a rule that leaves so much to interpretation and, accordingly, urge the Board and Treasury to take a more deliberative path to a workable rule as we have outlined in this letter.”