PokerStars are to appoint a fully independent trust to oversee its French player’s funds.
The third-party trustee is to be a UK trust company owned by IFG Group plc, an international financial services company with full market listings in London and Dublin. Players will be able to approach the trustee if they have an issue with the online operator.
Part of a PokerStars Player Protection Plan, the measures will see customer funds managed by an FSA-regulated fund manager, with company money kept with regulated banks in accounts with balances at least equal to the outstanding amounts owed to players.
The system is an extension of the one already used to protect the funds of players playing under PokerStars’ Isle of Man licence and it is hoped the system can be extended into other European markets including Spain, Italy and Belgium.
PokerStars’ CEO Gabi Campos said: “The security of player accounts and the integrity of online poker play are fundamental to the ongoing and future success of the industry. We are pleased to partner with the thought-leaders in European regulation to establish an industry-wide standard for ensuring player funds are protected.”
