Bayton hit with SEK35,000 penalty fee
The operator failed to notify SGA of board changes in 2019 due to internal processes failure
After failing to notify the regulator of a board change, Bayton Limited has agreed to pay the Swedish gambling regulator Spelinspektionen (SGA), SEK35,000 (£2,807).
The SGA investigated the firm in July 2020 and found that there had been changes made to the company’s board in April 2019 which the SGA was not aware of.
The failure to report this change has been due to shortcomings in compliance with the company’s internal routines. The change to the board had been prepared, but due to an oversight in the firm’s internal processes it was never reported to the SGA.
In response, Bayton has stated that to avoid this kind of incident from happening again the company has reviewed its internal processes and made the appropriate changes.
The board member in question was previously under investigation due to also being on the board of Whitfield Management Limited, the “corporate director” of Bellerive Trust Limited.
As a result of Bayton not declaring the change to board membership within 14 days as per the SGA’s regulations, the firm was issued with a remark plus a sanction fee of SEK35,000.