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Following the introduction of the new regulatory regime in August 2018, the previously common role of the key official became obsolete and was replaced by the key function roles. These have been defined by the Malta Gaming Authority (MGA), and include 15 roles which need to be covered for a company in possession of a Business to Consumer (B2C) Licence and 9 roles which need to be covered by a company in possession of a Business to Business (B2B) Licence.
The scope behind such a complete overhaul was predominantly related to the fact that the MGA felt it needed to ensure that roles which are considered key (critical) for the successful operation of the gaming business, are covered by qualified individuals, approved by the Authority. Such roles may only be provided by natural persons and are required to hold a certificate of approval.
Before the new gaming act came into force, the role of the key official was mainly covering the function which is now equivalent to the compliance function, i.e. the person responsible for ensuring compliance with the licensee's obligations emanating from the licence issued by the Authority.
At IGA Group (iGamingAdvisors) we can cover the role of key compliance for those companies who prefer outsourcing this function. Our team of qualified professionals already cover this role for a number of remote gaming companies, providing best in class service, in line with regulatory requirements.