SIGA
US Law Enforcement & Sports Business back SIGA’s Reform Agenda
SIGA’s call to address the most pressing challenges facing Financial Integrity and Transparency in Sport received an overwhelming response.
The Sport Integrity Global Alliance (SIGA) and its North American arm, SIGA America, hosted an expert forum on Financial Integrity and Transparency in Sport - the FITS Forum in New York City on Thursday. The event brought together some of the most influential authorities and key stakeholders from across the globe, in a strong demonstration of joint commitment to safeguard the financial integrity of global sports and press for long-overdue reforms.
Over 80 senior representatives from sport, global business, US Governmental Agencies and Law Enforcement responded to SIGA’s call to address the most pressing challenges facing financial integrity and transparency in sport and press for the much-needed global reforms.
Industry experts address threats to financial integrity in sport
Gathering yesterday in New York at the FITS Forum, the experts expressed deep concern about the sector’s vulnerability to the number of increasing threats, such as corruption, bribery, money laundering, tax evasion, illegal and unlawful sports betting, match-fixing and gambling addiction, among others.
Organized by SIGA AMERICA and Winston & Strawn LLP, the FITS Forum hosted senior industry leaders from a diverse range of organizations, who expressed their support to SIGA’s mission and proposed reforms. Among the participating organizations were Apple, Bank For Savings, Arizona State University, Bank of America, Barclays Capital, BNY Mellon, Circle, Clovis Quantum Solutions, Columbia Business School, Connecticut Lottery Corporation, Corpay, Diario AS, European Chess Union, FIFA, G20 Anti-Corruption Working Group, Icelandic Chess Federation, Fanatics Betting and Gaming, Gmo-z.com Trust Company, Global Data Risk LLC, GOLD SN, Guidehouse LLP, Kroll, PriceWaterhouseCoopers Corporate Finance LLC, Reuters, Ripple, San Manuel Casino, SI Global Partners, SMBC, UBS Global Asset Management Inc., UBS Arena, UEFA, United States Department of Justice, Valley Bank, Winston & Strawn LLP, Yale University, and Zeichner Ellman & Krause LLP. SIGA Members such as APC Compliance, the International Chess Federation (FIDE) and Mastercard.
The SIGA FITS Forum reached a consensus on pressing issues and appropriate and timely measures to help protect the industry from global threats, emphasizing the necessity for enhanced stakeholder cooperation, governance, regulatory frameworks, and independent oversight to safeguard Sport Integrity worldwide.
The FITS Forum culminated with the launch of The New York Declaration on Financial Integrity & Transparency in Sport. This landmark strategic document outlines the practical outcomes of the discussions held and maps a course towards greater Integrity and Transparency in Sport. The key objectives that were outlined, include, but are not limited to:
- Promoting the adoption and implementation, by Sports organizations, of the SIGA Universal Standards on Good Governance, Financial Integrity, Sports Betting Integrity, and Youth Development and Protection in Sport, as a matter of priority
- Ensuring all sports organizations comply with the SIGA Universal Standards and undergo the SIGA Independent Rating and Verification System (SIRVS) to demonstrate good governance, transparency and accountability.
- Supporting the establishment of a Global Independent Clearinghouse to oversee capital investments and financial transactions in Sport, to ensure effective financial integrity and transparency in relation to players’ transfers, club ownership investments, sponsorship deals, acquisition of media rights, and other vulnerable areas
- Aligning on the creation of a Sport Integrity Fund, financed by revenues from broadcasting rights, sponsorship deals, and sports betting, to support integrity initiatives, training, education, and capacity building.
- Advocating for the review and enhancement of existing legislation and international agreements to close gaps in combating financial crimes in Sport
- Strengthening the rules regarding tender processes for the bidding of major sports events, sponsorship deals and broadcasting commercial arrangements
- Ensuring all public funding allocations to sport are conducted with absolute transparency, accountability, and oversight, adhering to the SIGA Universal Standards.
Protecting sport’s integrity
Emanuel Macedo de Medeiros, Global CEO, SIGA, called all participants join SIGA and support its global reform agenda:
“Sport faces tremendous challenges, and needs a strong united front to surpass them. Integrity is under siege. Unscrupulous individuals and criminal organizations are taking advantage of Sport’s vulnerabilities. As the world’s leading independent coalition in the field of Sport Integrity, we can tell you this much: we will not allow this to happen on our watch. Your participation in this FITS FORUM is an eloquent demonstration that we are not alone in this fight. And that we can count on you.”
Commenting the positive outcome of The FITS Forum, Macedo de Medeiros added:
“The New York Declaration represents a giant step towards creating a strong, cohesive and united front of like-minded organizations committed to advance financial integrity and transparency in Sport. It sets out a clear roadmap to protect Sport’s most precious asset - its integrity! We know where we are and where we want to go. We also know how to get there, and who means business and is ready to walk the talk. The FITS Forum’s collaborative efforts and the concluding Declaration underscore the commitment of industry leaders to safeguard the present and future of global Sport through the SIGA Universal Standards and SIRVS. It’s time for global sponsors, governments, sports organizations and media-right holders to pick their side, and join our global movement!”
Click here to download the New York Declaration on Financial Integrity & Transparency in Sport
SIGA is the world’s leading organisation for Sport Integrity, delivering independent global rating and certification for world Sport to ensure it is governed and operates under the highest integrity standards: The SIGA Universal Standards.
SIGA is a non for profit global independent organisation with one aim: To ensure the sport industry is governed under the highest integrity standards so that the values of sport are protected. It is the only organisation to bring together sport, governments, academia, international organisations, sponsors, business, rights holders, NGOs and professional services companies, from every region in the world, around a common cause of fostering greater integrity throughout sport.