Policy on Outsourcing by Authorised Persons published by the MGAMEDIA ROOM
The gaming industry in Malta is becoming interdependent on an ever increasing range of B2B providers. For this reason MGA has published a document titled ‘Policy on Outsourcing by Authorised Persons.’ The aim of this document is to establish a clearer framework on what services and functions may be outsourced by authorised person to third parties, and which criteria and standards must be adhered to in order to ensure that the relevant risks, particularly the risks that may result in regulatory action, financial loss or loss of reputation for authorised persons, are managed.
Through this policy, the MGA is also introducing a requirement for authorised persons to assign an employee with the overall responsibility for the outsourced service relationship, who is fit and proper and possesses adequate knowledge and experience to be in a position to challenge performance by the third party provider.
The policy is expected to offer the necessary guidelines in tandem with the forthcoming implementation of the new regulatory regime. Persons applying for a licence on or after 1 August 2018 shall be required to comply with this policy. All other authorised persons shall be subject to a transitory period ending 31st December 2018.
The ‘Policy on Outsourcing by Authorised Persons’ may be accessed here and is to be read in parallel with the legal requirements imposed on authorised persons by virtue of applicable legislation.
For more assistance kindly contact Roger A. Strickland Jr, Director and iGaming Consultant on [email protected] or on +356 2557 2557.