The Malta Gaming Authority has published the findings of its Thematic Review on Governance Assurance – Key Functions, a key supervisory priority identified for 2025 as part of the Authority’s risk-based, evidence-led, and outcomes-focused approach to regulatory oversight.

The review assessed governance arrangements across a sample of B2B and B2C Authorised Persons, focusing on the effectiveness of the Chief Executive Officer, Compliance, Internal Audit, and Prevention of AML/CFT functions in practice.

Drawing on insights obtained through both Supervisory Reviews and Supervisory Meetings, the Authority found that many Authorised Persons have established mature governance frameworks supported by active senior leadership, engaged Key Function Holders, and increasingly risk-based approaches to governance, compliance, internal audit, and AML/CFT oversight.

At the same time, the review identified opportunities for further enhancement across the sector. Common themes included over-reliance on a limited number of senior decision-makers, insufficient evidence of challenge and impact assessment in strategic decision-making, and weaknesses in audit trails.

The review also highlighted that the strongest governance arrangements were characterised by active leadership engagement, empowered Key Function Holders, effective collaboration across assurance functions, and governance processes that were embedded into day-to-day decision-making. Examples of good practice included structured escalation procedures, risk-based monitoring programmes, independent assurance functions, governance committees, and proactive consideration of regulatory implications when entering new markets or implementing significant business changes.

This publication is intended to support Authorised Persons in assessing the effectiveness of their governance arrangements, identifying opportunities for improvement, and strengthening oversight, accountability, and assurance across key governance functions.

The Authority remains committed to promoting transparency, consistency, and high standards of governance across the online gaming sector. Through ongoing supervisory engagement and related outreach, the Authority seeks to share regulatory insights, encourage the adoption of best practices, and support Authorised Persons in meeting evolving regulatory expectations.

The full Thematic Review is available here.