Issue link: https://maltatoday.uberflip.com/i/1390871
4 NEWS 8.7.2021 MGA publishes 2020 annual report and financial statements MAPFRE Middlesea launches 40th anniversary celebrations THE Malta Gaming Authority (MGA/ Authority) is publishing its Annual Re- port and audited Financial Statements for the financial year ending 31 Decem- ber 2020. e report provides an overview of the work performed throughout the year and highlights major projects under- taken by the Authority throughout the same period. In addition, the report also outlines the performance of the Maltese gaming industry during 2020 as well as a medium-term outlook into the future, followed by a detailed report explaining key statistics for the land-based and on- line gaming sectors in the context of the COVID-19 pandemic. e following are the key highlights from the Annual Report covering the year 2020: • Between January and December 2020, following information which emerged from compliance audits, compliance reviews, and formal investigations, the Authority is- sued 69 warnings, suspended 3 li- cences, and cancelled another 12. In addition, the MGA issued a total of 24 administrative penalties. • In 2020, 30 compliance audits were conducted by the Compliance and AML function, one of which relat- ed to a live studio, and 324 desktop reviews were carried out, of which 98 identified deficiencies which were accordingly escalated to the Compliance and Enforcement Committee. • In 2020, 8 individuals and compa- nies were deemed not to be up to the Authority's probity standards by the Fit & Proper Committee, mainly on the basis of mitigating the risks of money laundering or funding of terrorism. • During the twelve-month period of 2020, a total of 1,475 criminal probity screening checks were undertaken, an increase of 13.5% when compared to the year 2019. • In terms of AML/CFT, during the twelve-month period of 2020, a to- tal of 27 supervisory examinations on online gaming licensees were conducted by the MGA, of which 10 were full scope examinations, 3 were targeted examinations, 8 were thematic examinations, and 6 were supervisory meetings. • In 2020, the MGA conducted a to- tal of 65 interviews with prospec- tive MLROs and key persons car- rying out the AML/CFT function to determine the knowledge and suitability of each candidate, out of which 40 were approved, 17 were conditionally approved and 8 were rejected. • e Commercial Communication Committee of the MGA took ac- tion against 10 adverts or promo- tions that, in the opinion of the Committee, inappropriately ex- ploited the COVID-19 pandemic. • During 2020 the Player Support Unit received a total of 5,625 re- quests for assistance, a 58% in- crease over 2019, potentially stemming at least partly from the impact of the COVID-19 pandem- ic on player behaviour. • In its efforts to boost knowledge sharing and cooperation with international counterparts, the MGA hosted a delegation of mem- bers of the Lotteries and Gaming Board and the Ministry of Home Affairs and Cultural Heritage of the Republic of Zimbabwe. • e Authority received 67 interna- tional cooperation requests from other regulators and sent 47 such requests, with the majority refer- ring to requests for background checks as part of an authorisation process. • During the year 2020, a total of 168 requests for information specifi- cally relating to the manipulation of sports competitions or breach- es in sports rules were submitted by enforcement agencies, sport governing bodies, integrity units, and other regulatory bodies. Ad- ditionally, a total of 288 suspicious betting reports from licensees and other concerned parties were re- ceived. • During the period under review, the Authority was a direct partic- ipant in 20 different investigations across the globe relating to manip- ulation of sports competitions or breaches in sports rules. • Recognising the importance of es- tablishing data sharing agreements with relevant stakeholders, includ- ing sport governing bodies and other platforms whose function in- cludes the detection of suspicious betting activities, the MGA signed a total of five agreements, name- ly a data sharing agreement with the International Cricket Council, the Swedish Football Association, the Darts Regulation Authority, the World Professional Billiards & Snooker Association, and the Slo- vak Football Association. • During 2020, the MGA and the FIAU signed an updated version of the MoU which brought forth bet- ter cooperative instruments for the supervision of AML/CFT in the gaming sector. • e Authority entered into an MoU with the Malta Business Reg- istry with the aim of facilitating the ongoing close communication be- tween authorities and the effective sharing of information. • With the aim of increasing cooper- ation with our international coun- terparts, an MoU was agreed to by the MGA and the Dutch Kansspe- lautoriteit (the Dutch Gambling Authority) on the basis that the two authorities will support each other by sharing best practices and information in support of their responsibilities at law, whilst also engaging in discussions on policy matters of interest. • e MGA also enhanced its col- laboration with the Commission- er for Voluntary Organisations by creating a process whereby any entity that applies for a non-profit game is only issued with a permit if such an entity is a registered and compliant voluntary organisation. • Recognising the importance of regular dialogue with stakehold- ers, throughout 2020, over 55 ex- ternal communications were sent, providing a synopsis of various up- dates and developments within the Authority and industry. MGA CEO, Dr Carl Brincat said 2020 will undoubtedly be remembered for the challenges the pandemic presented. "Keeping the ship steady during a chal- lenging year serves as a strong founda- tion for us to look ahead with renewed commitment to keep building on the positives and improve on our shortcom- ings, to reach new heights in our regula- tory approach," he said. ON the occasion of MAPFRE Mid- dlesea's 40th anniversary, Jose Ramon Alegre, CEO responsible for MAP- FRE's Eurasia operations, visited the company at its headquarters in Flori- ana. During his visit, Alegre met the CEOs of MAPFRE's two operations in Malta, MAPFRE Middlesea's CEO and Country CEO for MAPFRE Mal- ta Javier Moreno and MAPFRE MSV Life's CEO Etienne Sciberras. He also visited the offices of MAPFRE Malta's main local shareholders and partners, Bank of Valletta, where he met the bank's Chairman Gordon Cordina and CEO Rick Hunkin. Whilst in Malta, Alegre also met MAPFRE Middlesa directors, mem- bers of the the executive management of both companies, and visited one of the company's regional offices and one of its agents. MAPFRE is a major player on the global insurance market, with inter- ests spread across five continents, and one of the fastest growing insurance groups in Spain and South America. While welcoming Alegre on his vis- it to Malta, Moreno remarked that the establishment of MAPFRE's op- erations in Malta have contributed to extend the reach of the MAPFRE brand in Southern Europe. On the other hand, the brand's values, and especially its focus on the customer, have enhanced further Middlesea's 40-year reputation as a trustworthy insurer. He also took the opportunity to express his appreciation to all the company's employees for their loyalty over the years. Middlesea Insurance p.l.c. was reg- istered in 1981 as the first Maltese in- surance company transacting general business. In 1983, the company also started writing life business. In 1994, Middlesea was the first insurance company to be listed on the Malta Stock Exchange, and founded Mid- dlesea Valletta Life Assurance Co. Ltd (now MAPFRE MSV Life plc) in part- nership with Bank of Valletta p.l.c., to focus solely on life business. In 2011, MAPFRE Internacional obtained a majority shareholding in Middlesea Insurance p.l.c., and as at that date, the company became a member of the MAPFRE Group. In 2015, Middlesea Insurance changed its name to MAPFRE Mid- dlesea p.l.c. , thus enabling it to bene- fit from its association with the MAP- FRE global brand, whilst retaining the goodwill generated by the local Mid- dlesea brand.