Tenn. Code Ann. § 4-49-110: Financial practices - Audits of licensees - Post-employment restrictions

The council shall prescribe by rule: (1) Minimum requirements by which each licensee must exercise effective control over its internal fiscal affairs, including, without limitation, requirements for: (A) Safeguarding assets and revenues, including evidence of indebtedness; (B) Maintenance of reliable records relating to accounts, transactions, profits and losses, operations, and events; and (C) Global risk management; (2) Requirements for internal and independent audits of licensees; (3) The manner in which periodic financial reports must be submitted to the council from each licensee, including the financial information to be included in the reports; (4) The type of information deemed to be confidential financial or proprietary information that is not subject to any reporting requirements under this part; (5) Policies, procedures, and processes designed to mitigate the risk of cheating and money laundering; and (6) Any post-employment restrictions necessary to maintain the integrity of sports wagering in this state. Renumbered from T.C.A. s 4-51-310 by 2021 Tenn. Acts, ch. 593, s 30, eff. 1/1/2022. Amended by 2021 Tenn. Acts, ch. 593, s 27, eff. 1/1/2022. Added by 2019 Tenn. Acts, ch. 507, s 1, eff. 7/1/2019.

The council shall prescribe by rule:

(1) Minimum requirements by which each licensee must exercise effective control over its internal fiscal affairs, including, without limitation, requirements for: (A) Safeguarding assets and revenues, including evidence of indebtedness; (B) Maintenance of reliable records relating to accounts, transactions, profits and losses, operations, and events; and (C) Global risk management;

(A) Safeguarding assets and revenues, including evidence of indebtedness;

(B) Maintenance of reliable records relating to accounts, transactions, profits and losses, operations, and events; and

(C) Global risk management;

(2) Requirements for internal and independent audits of licensees;

(3) The manner in which periodic financial reports must be submitted to the council from each licensee, including the financial information to be included in the reports;

(4) The type of information deemed to be confidential financial or proprietary information that is not subject to any reporting requirements under this part;

(5) Policies, procedures, and processes designed to mitigate the risk of cheating and money laundering; and

(6) Any post-employment restrictions necessary to maintain the integrity of sports wagering in this state.

Renumbered from T.C.A. s 4-51-310 by 2021 Tenn. Acts, ch. 593, s 30, eff. 1/1/2022.