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Can you summarize 58 PACO Section 1408a.7?
Sports Wagering Accounting and Internal Controls > Sports wagering certificate holders or sports wagering operators organization.
Short Summary
This document outlines the requirements for the organization and internal controls of sports wagering certificate holders or sports wagering operators. It states that the systems of internal controls must include organization charts depicting segregation of functions and responsibilities, as well as descriptions of the duties and responsibilities for each position. The organization charts must provide for a system of personnel and chain of command, segregation of incompatible functions, and the performance of all functions in accordance with sound financial practices. Additionally, it mandates the maintenance of an information technology department supervised by an information technology director, an information technology security officer, and an interactive gaming manager for interactive or mobile sports wagering. The information technology director is responsible for the integrity of data and computer systems, while the information technology security officer ensures compliance with security policies and coordinates security-related matters. The interactive gaming manager oversees the proper operation and integrity of interactive or mobile sports wagering. The document also requires immediate reporting to the Bureau of any suspicious behavior or violations by participants in interactive or mobile sports wagering.
Whom does it apply to?
Sports wagering certificate holders and sports wagering operators
What does it govern?
Organization and internal controls for sports wagering certificate holders or sports wagering operators
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
No specific penalties are mentioned.
Jurisdiction
Pennsylvania