Ever since the revamp of the Gaming laws regulating Gaming in Malta, more focus has been put on the proper operation of such companies, particularly through the setting out of duties which must be carried out specifically by a number of persons within the gaming organisation. These functions are further detailed in the Fourth Schedule of the Gaming Authorisations Regulations, 2018. Such persons will be subject to the scrutiny of the Malta Gaming Authority (MGA) to ensure such each person entrusted with a key function is fit and proper to carry out the function properly.
Requirements for Key Official Gaming Persons
First and foremost, key functions may only be carried out by persons who acquire the due certificate of approval from the MGA. The regulations stipulate if operations are carried out by a key person who has not been officially certified, he will be found in breach of the Act.
Each licensee or applicant is required to notify the MGA of who the key persons within the company are, as well as the functions that they shall be carrying out for such licensee. This must be done without prejudice to the certificate which is required by the MGA for such a person to carry out such key function. This approval certificate will be issued at the application stage as well as when a new key person is being appointed after the resignation of the previous key person.
The following roles and responsibilities are considered to be key functions:
- Chief Executive;
- Oversee gaming operations;
- Address any legal affairs and compliance issues which apply to the regulatory instruments in question;
- Oversee to the finance;
- Overlook the marketing and advertising used by the operations;
- Offer player support;
- Oversee the technology used, including, but not limited to information security and the operation and management of the control system;
- Prevent money laundering and the funding of terrorism;
- Carry out risk management and the prevention of fraud; and
- Oversee the internal audit of the operations
If the licensee is providing gaming services within a gaming premise (Business-to-Consumer services), the following additional key functions must be catered for:
- Supervise and manage the work of employees carrying out some form of function in the gaming area;
- Manage the gaming area, including supervision to avoid fraud by customers, as well as the resolution of customer disputes if necessary;
- Manage the surveillance systems of the gaming premises
Our Key Official Gaming Practice
The gaming experts within Chetcuti Cauchi use their wealth of experience to provide solutions and advice to clients wishing to set-up gaming operations in Malta or set-up backup operations within any EU jurisdiction. Understanding the complexity of the industry, the team will work hand-in-hand with other experts within the firm, who will offer advice relating to Corporate and Tax, to ensure any issues which may arise will be duly dealt with.
The firm’s hands-on experience within the Gaming industry has allowed it to offer high-quality services which cover all aspects of iGaming. Our experts have also used this knowledge to provide their two-cents worth on what the future of such technologies can bring about. In fact, numerous thought-provoking articles have been published, outlining what the future can hold when such developments are embraced, rather than restricted.
