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Can you summarize 9 NYCRR 5313.1?
Conduct and Operation of Gaming > System of internal control.
Short Summary
This legal document governs the system of internal control for gaming facility licensees. It requires gaming facility licensees to submit a written description of their initial system of administrative and accounting procedures, including internal control systems and audit protocols, to the commission. The document outlines the specific elements that must be included in the written system of internal controls, such as organization charts, duties and responsibilities of each position, record retention policy, asset safeguarding procedures, procedures for gaming-related promotions, compliance with licensing requirements, and more. The document also requires accounting controls to ensure transactions are executed and recorded accurately, access to assets is authorized, and accountability for assets is maintained. Additionally, it specifies procedures and controls for online monitoring and accounting, segregation of duties, and security measures. The document also outlines the submission and review process for initial internal controls and proposed amendments. Gaming facility licensees are required to maintain a current version of their internal controls and retain copies of superseded internal control procedures and signed attestations. The document is governed by the New York Codes, Rules and Regulations, specifically the Executive Department, New York State Gaming Commission, Division of Gaming, Casino Gaming, and Conduct and Operation of Gaming sections.
Whom does it apply to?
Gaming facility licensees
What does it govern?
System of internal control for gaming facility licensees
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
No penalties are mentioned.
Jurisdiction
New York