Sol Mutuel Limited is licensed and regulated by the Grenada Authority for the Regulation of Financial Institutions (GARFIN). GARFIN, as a regulatory agency, evolved from the Grenada International Financial Services Authority (GIFSA). The primary responsibility of GARFIN is to monitor and regulate both onshore and offshore financial institutions. In some areas, this responsibility is shared with the Eastern Caribbean Central Bank (ECCB).

The Government of Grenada has duly licensed Sol Mutuel Limited under the International Betting Act of 1998. This designation allows Sol Mutuel Limited to carry on the business of international betting, pursuant to section 13 of the International Betting Act No. 24.

Under the Act, the licensing process requires an Applicant company (Sol Mutuel) to undergo an examination of financial status and history. This is a lengthy and involved process. In addition, examination of the organization’s directors, associates or affiliates and the character and experience of our directors takes place. This was done with Sol Mutuel and our principals.

The objective of all of this activity is to ensure that Grenada is maintained as a clean and transparent jurisdiction.

Other items of note relative to the regulatory environment; Licensees under the International Betting Act are required to:

1. Maintain a principal office in Grenada,
2. Conduct their business in a way that is consistent with the global standards of interest related to person(s) placing bets,
3. A deposit of at least EC (East Caribbean) $250,000 must be permanently maintained in a licensed bank in Grenada.

Licensees acknowledge that GARFIN is authorized to conduct examination of an organizations operations as well as financial books and records at any time without prior notification. Sol Mutuel Limited as a Licensee is also monitored through various direct and indirect means including an Admin terminal installed within the GARFIN offices. This terminal allows for direct/real-time monitoring of all wagering transactions.
Sol Mutuel Limited was found to be of sound finances and our Board of Directors to be of reputable character and sound financial status. We are currently held in good standing with the GARFIN agency.

In addition to the procedural/operational items listed above, other points of interest related to supporting regulatory legislation that exists includes;

• Money Laundering Prevention Act of 1999, which established a Supervisory Authority over the financial sector, and imposed customer identification requirements on banking and other financial institutions.
• Proceeds of Crime (Amendment) Act of 2003 extending anti-money laundering responsibilities to a number of non-bank financial institutions.
• Exchange of Information Act No. 2 of 2003, which strengthened the government's ability to share information with foreign regulators.
• A Mutual Legal Assistance Treaty and an Extradition Treaty have been in force between Grenada and the United States since 1999.
• Grenada has a Tax Information Exchange Agreement with the United States.
• June 2001, Grenada established a Financial Intelligence Unit (FIU) headed by a prosecutor from the Attorney General’s office. The FIU can provide information concerning SARs to any foreign FIU.
• Grenada became a member of the Egmont Group in June 2004, joining existing members such as; Australia, Canada, France, Germany, Ireland, Japan, Spain, Switzerland, United Kingdom and the United States (among many others) focusing on global financial intelligence.
• Grenada has cooperated extensively with US law enforcement in numerous money laundering and other financial crimes investigations. As a result, several subjects in the United States were successfully prosecuted with the assistance of the government of Grenada.