Malta is in the process of overhauling its regulatory framework governing the gaming sector in order to future proof the industry and align it to new realities and challenges. A wide range of policies are being critically reviewed to amongst other things, continuously raise standards of governance and reinforce the supervisory and compliance monitoring of the industry by the Malta Gaming Authority (MGA).
The MGA’s fit and proper guidelines are one of a series of measures to be launched by the MGA in order to ensure a consistent and transparent approach in its regulatory outreach in the interests of all stakeholders and customers alike.
These Guidelines set out the minimum criteria applicable to all relevant persons falling under all the activities regulated by the MGA in accordance with applicable law. The MGA’s vision is to ensure that it facilitates effective compliance, reduce administrative burdens and duplication of requirements on the industry without compromising its regulatory ethos. A revamped set of application and reporting guidelines together with updated official application forms shall also be issued in the coming weeks together with other regulatory “quick win” announcements forming part of the MGA’s intensive transformation process referred to in the recently published annual report for 2014.
The MGA has recognised the necessity to strengthen the requirements which must be met by the person fulfilling the Key Official function. In doing so, the MGA aims to strengthen the compliance capability of the licensee which has become a more critical feature of the MGA’s fit and proper assessment. The Authority’s objective in this area is generally to ensure that an operator has sufficient compliance capability and competence allocated to the right official/s who will in turn enhance the systemic compliance performance of its licensees.
While the governance and risk management review and the fit and proper assessment policy framework address all forms of gaming operations and licensees, including land-based, this consultation deals only with the Key Official function of remote gaming operations. Notwithstanding the specificity of this consultation, the MGA is envisaging the adoption of similar requirements for key officials for land-based licensees.
The Fit and Proper Guidelines can be accessed here, whereas the Consultation on the Key Official fitness and propriety requirements can be viewed here.
All responses should be sent by email to [email protected] by not later than Friday 16 October 2015.
Alternatively, responses can be sent by post to:
Consultations
Malta Gaming Authority
Suite 1, Level 3, TG Complex,
Brewery Street Mriehel,
BKR 3000,
Malta