Powers of the Commission to Review and Audit Records; Reporting Requirements
(1)The commission, or its staff, will be given unrestricted access, for review and audit, to all records and financial information of the hub operator, including all account information. This information will be made available to the commission or commission staff, by the hub operator, at the hub location, upon notice from the commission or commission staff, at all reasonable times to the extent such disclosure is not expressly prohibited by law. Commission access to and use of information concerning wager transactions and account wagering customers shall be considered proprietary and shall not be disclosed publicly except as may be required by law. This shall not prevent the sharing of this information for investigative purposes.
(2)The following reports shall be submitted to the Commission:
(a)Wagering Center Closure: A report signed by the hub’s managing employee must be filed with the commission within forty-eight (48) hours whenever the account wagering center is closed during normal operating hours;
(b)Transmission Failure: A report signed by the hub’s managing employee must be filed with the commission within forty-eight (48) hours whenever wagers are not transmitted to, received by, or otherwise accepted by a racetrack for any reason. The financial implication of such failure should be detailed in this report;
(c)Irregularities or wrong doings: All licensees shall report any known or suspected rules violations by any person involving account wagering immediately to the commission and cooperate in subsequent investigations.
(3)Miscellaneous. The following reports shall be available for inspection by the commission upon request:
(a)Affiliate account wagering handle;
(b)Reports for taxation purposes;
(d)List of inactive accounts;
(e)List of Excluded Persons;
(f)List of account holders, set out by jurisdiction;
(g)Log of all system accesses and adjustments to the master file; and
(h)List of all deposits, withdrawals, wagers and winning payouts.
(4)The commission may require the hub operator to annually submit audited financial statements.
(5)The commission requires a 14 day notice in a change of hub ownership prior to such a sale if reasonably possible. In the event that such notice cannot be given, or if all necessary financial soundness checks and personal background checks cannot be completed in that time, the commission may issue a 60 day temporary license pending completion of those investigations.
Rule 462-220-0070 — Powers of the Commission to Review and Audit Records; Reporting Requirements,