Malta Gaming Authority overhauls requirements for Key Official function
As a result of Malta Gaming Authority overhauling its regulatory framework governing the gaming industry, requirements for Key Official function will be strengthened. By doing so, the Authority aims to enhance the compliance capability of the licensee which, according to MGA, “has become a more critical feature of the MGA’s fit and proper assessment”.
Quoting MGA website, the Key Official (KO) “is the liaison person between the Authority and the licensee”. The online guide further explains, that “the designated official must always keep abreast of all the operations being undertaken by the licensee. The KO must be a director of the licensee and must be physically present in Malta”.
The Authority’s goal in this field is to “ensure that an operator has sufficient compliance capability and competence allocated to the right official who will in turn enhance the systemic compliance performance of its licensees”.
Besides the fit and proper guidelines, MGA will undertake other regulatory measures. The Authority’s goal is to “ensure a consistent and transparent approach in its regulatory outreach in the interests of all stakeholders and customers alike”.
You can also meet Malta Gaming Authority representatives at their stand during SiGMA15, by applying to the event here.
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