The Malta Gaming Authority (MGA) has published a series of amendments to the Gaming Authorisations and Compliance Directive (Directive 3 of 2018). The amendments mainly relate to the following:
- The overall number of key function roles and their underlying responsibilities;
- The deadlines by when certain key function requirements are to be observed;
- The persons who shall shoulder responsibility in the absence of duly appointed key function holders;
- The manner and form in which declarations and assurances are to be made by auditors on behalf of licensees during submission of audited financial statements; and
- The applicability of suspicious betting reporting requirements.
These amendments have been published together with a Policy on the Eligibility and Ongoing Competency Criteria for Key Persons. This Policy is intended to revise and collate the existing eligibility criteria while also introducing authorisation renewal requirements related to continuous professional development for existing key persons. Moreover, the Policy clarifies the MGA's position regarding the compatibility of key function roles with each other in light of the amendments to the Directive.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.