The Gaming Authorisations Regulation introduced the key functions and key individuals to Maltese licensees. Key individuals are natural persons appointed by the licensee to be the responsible person for a certain role within the company.

 

Key functions are important roles within a gaming licensed entity, which require the authority’s approval for direct scrutiny and targeted supervisory controls, thereby raising the bar for persons of responsibility within a gaming operation. Key individuals have roles and responsibilities in connection with the gaming activity of a licensee.

 

A Gaming Service (B2C) Licensee must appoint individuals in the following key functions:

1. The Chief Executive role, or equivalent;
2. Management of the day-to-day gaming operations of the licensee, including but not limited to, the management of the financial obligations of the licensee, such as the payment of tax and fees due to the Authority, the processes of making payments to, and receiving payments from, players, the management of the risk strategies for the operation of the licensee, and the prevention of fraud to the detriment of the licensee;
3. Compliance with the obligations of the licensee as may be applicable by virtue of the Act and any binding instrument issued thereunder, including but not limited to, obligations relating to responsible gaming, obligations relating to player support, obligations relating to the rules relating to marketing, advertising and promotional schemes, and where applicable, obligations relating to sports integrity;
4. The legal affairs of the licensee, including but not limited to matters relating to contractual arrangements and dispute resolution;
5. Adherence to applicable legislation relating to data protection and privacy;
6. The prevention of money laundering and the financing of terrorism (AML-CFT)
7. The technological affairs of the licensee, including but not limited to the management of the back-end and control system holding essential regulatory data, and the network and information security of the licensee; and
8. Internal audit.

 

A Critical Gaming Supply (B2B) Licensee must appoint individuals in the following key functions:

1. The Chief Executive Role, or equivalent;
2. The management of the day-to-day gaming operations of the licensee, including but not limited to, the management of the financial obligations of the licensee, such as the payment of tax and fees due to the Authority, and the management of the risk strategies for the operation of the licensee;
3. Compliance with the obligations of the licensee as may be applicable by virtue of the Act and any binding instrument issued thereunder, including but not limited to obligations relating to sports integrity where these are applicable;
4. The legal affairs of the licensee, including but not limited to, matters relating to contractual arrangements and dispute resolution;
5. Adherence to applicable legislation relating to data protection and privacy, where applicable;
6. The technological affairs of the licensee, including but not limited to, the management of the back-end and control system holding essential regulatory data, and the network and information security of the licensee; and
7. Internal audit.

 

BDO Malta offers several qualified individuals approved by the MGA who can provide substance to your operations by acting as a key individual. Our key individuals are readily available and committed to work with you to have full knowledge, understand and access your practices, systems and procedures. By studying your operations, we are also able to suggest the right individuals in your company to occupy the applicable key functions.

 

Get in touch with our Gaming Advisory team today.

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