The Malta Gaming Authority (MGA) is considering revoking a licence condition under the remote gaming licence, which states that all employees of a gaming company must be approved by the MGA. In fact, the MGA is inviting Key Officials to state by the 12th August 2016 whether they disagree with the licence condition stating that: “The Key Official must submit a Remote Gaming Approval of Employee Application Form (MGA/51/2010-06) for each employee employed with the Licensee.”
It is to be noted however that this measure will not affect employees enjoying positions of responsibility, who will remain subject persons from a due diligence perspective and who will have to continue to satisfy the fit and proper criterion. These include the positions of Directors, Key Officials, Chief Executive Officers and all C-Level Executives, Heads, Managers or equivalent and MLRO Officers.
This regulatory initiative is aimed at simplifying Remote Gaming’s operational process in line with corporate governance policy. The MGA will be considering the Key Official’s representations within the specified period and proceed accordingly.
This is a positive step taken by the MGA, as announced during its recent Annual Industry Gathering held Thursday 21st July 2016. It is yet another sign that MGA is a forward looking organisation that gives priority to the needs of the industry.
