The Malta Gaming Authority (MGA) has published a White Paper proposing major reforms to Malta’s Gaming Legal Framework.
The purpose of this change is to move towards a streamlined approach in terms of licence activities, which in turn will assist operators and software providers achieve Regulatory goals in a more efficient timeframe.
Furthermore, the proposed reform proposes the enhancement of best-in-class consumer protection standards, responsible gaming measures, a risk-based approach towards regulation.
A few key Highlights Include:
- A Business to Consumer (B2C) and Business to Business (B2B) licence to replace the current framework of multiple licences for different game products.
- Adopting a flexible approach rather than prescriptive approach to allow room for innovation.
- Strengthening and segmenting the responsibilities of the Key Official into various key functions within a licensed activity.
- Enhancing player protection.
- Introducing an automated reporting system, facilitating adherence to regulatory obligations and strengthening the Authority’s oversight.
You may access the link to the consultation paper below:
The closing date for feedback on the aforementioned consultation is Wednesday, 23rd August, 2017.