On 11 April 2019, one Bayton board member resigned, followed by another’s accession, but according to the Swedish Gambling Authority (SGA), the regulator had not received any information about this reshuffle within the alloted time.
This failure, the SGA remarked, occurred due to “shortcomings in compliance with the company’s internal routines.”
In response, Bayton said it has reviewed its internal routines and made changes to prevent a similar event from occurring in the future. Furthermore, the SGA added that the board member who took office had previously been the subject of review.
“In connection with a supervisory activity, the Swedish Gambling Authority has noticed that there have been changes in Bayton Limited’s board, something the company had not reported,” the regulator stated.
“The company refers to shortcomings in its internal routines and has taken measures to ensure that a similar event does not occur again. The person in question had been tried before, but in a different function.”
For failing to report the change within 14 days, and taking into account the severity of the infringement, the regulator deemed a remark adequate, though said it “must be combined with” a SEK 35,000 penalty fee.
The SGA concluded: “In an overall assessment, the Swedish Gambling Authority in this case finds that a remark may be regarded as a sufficient intervention. The remark must be combined with a sanction fee of SEK 35,000.”
