SFJL holds a Type 2 Gaming Services licence in Malta, but this is now suspended for an undisclosed period. The MGA ruling officially came into effect on 3 August.
The Malta regulator said SFJL breached several sections of Malta’s Gaming Compliance and Enforcement Regulations. These included regulation 9(1)(c), (k) and (j).
Section 9(1)(c) covers failure to comply with obligations in terms of regulatory instrument or other applicable law.
The MGA also flagged Section 9(1)(k), where licensees must seek the regulator’s approval over certain material changes within the business.
In addition, the regulator identified a breach of Section 9(1)(j). This states that if the MGA had been aware of particular circumstances, it would not have given its authorisation over certain matters.
It did not go into full detail on the case, nor did it set out any specific actions that resulted in the regulatory breaches. SFJL cannot carry out gaming operations during the suspension period.
SFJL has the option to appeal against the decision.
EGMIT Elite’s Malta licence cancelled
The latest ruling comes after the MGA last week cancelled EGMIT Elite Limited’s B2C gaming service licence.
EGMIT Elite operates its Elite24bet site via the licence but must now cease all operations. The MGA also flagged several breaches of the Gaming Compliance and Enforcement Regulations.
Withdrawal of the licence means the operator is no longer authorised to carry out gaming operations under the MGA licence. It must remove any reference to approval from the Malta regulator from its websites and other platforms.
The regulator also filed a police report against the operator and initiated liquidation proceedings.
Further details of the breaches were not disclosed by the MGA.
Original article: https://igamingbusiness.com/legal-compliance/legal/malta-suspends-sfjl-licence/
