The Malta Gaming Authority (MGA) has published a White Paper to propose some important reforms to the country’s legislation and regulatory framework. One of the main reasons why the Malta gambling regulatory watchdog has made this proposal is its attempt to annul the already existing legislation and replace it with a singular piece of legislation.
The latter is aimed to be a primary Act of Parliament that will be passed with a complementary legislation that will cover the main regulatory areas. In addition, the Malta Gaming Authority will issue a number of guidelines and directives.
Under the terms of the proposed gambling regulatory framework would provide the watchdog to be more swift and precise when making certain decisions and to decrease come regulatory burdens which do not come in line with the major regulatory objectives. At the same time, the Malta Gaming Authority will be able to enhance its supervision and focus its efforts to areas that are put at risk, and also establish objective-oriented standards in order to encourage further development and innovation.
Customers are also expected to draw benefit from the newly-proposed gambling legislation, as the latter would raise consumer protection standards and enhance responsible gaming measures.
The Malta Gaming Authority has also revealed some of the major focal points of the newly-proposed Gaming Act. The currently-exiting multi-license system is aimed to be replaced with a system that will feature only two types of licenses – a business-to-business and a business-to-consumer license. Each of them will cover certain types of activities across a number of distribution channels, while business-to-business licensees will be freed from paying gaming tax which is expected to make Malta even a more attractive gambling hub for international gaming services operators.
The new Gaming Act is also to be focused on allowing innovations while at the same time making sure that all regulatory objectives are strictly followed and achieved. What is more, expanding the regulatory scope is to provide the Malta Gaming Authority with better oversight and powers, in order for the watchdog to remain focused on the regulatory objectives. Of course, under the new legislation the MGA will make sure that the obligations related to anti-money laundering and anti-terrorism funding.
As mentioned above, the customer protection legislation and regulatory framework is also to be enhanced by making the mediatory role of the Malta Gaming Authority’s Player Support Unit more formal and official. The opportunity for self-exclusion across both brick-and-mortar and online delivery channels will also be available.
The introduction of the new Gaming Act would also bring in more effective processes when it comes to criminal an administrative justice. The appeals related to gaming cases will no longer be filed in the MGA, but in the Administrative Review Tribunal. Also, a difference between administrative and criminal offences will be made.
The new gambling legislation is to boost the role of the MGA when it comes to manipulation of sports competition. Operators will be further obliged to monitor sports betting and of course, report to the Authority in case that any suspicious bets are made.
The amendments proposals made by the Malta Gaming Authority have been backed by certain initiatives, which have been started over the preparatory period of the proposed legal changes. There have been various technical studies, public consultations, economic and financial impact assessments, etc.
- Author
Daniel Williams
