Rule 13-15-5.1 - ProceduresA fantasy contest operator offering fantasy contests with an entry fee in this state shall comply with audit procedures adopted by the Commission to ensure compliance with this section.
(a) The Executive Director shall make appropriate investigations: 1. To determine whether there has been any violation of Miss. Code Ann. §§ 97-33-301 through 97-33-317 or of any regulations adopted thereunder;2. To determine any facts, conditions, practices or matters which he may deem necessary or proper to aid in the enforcement of any such law or regulation;3. To aid in adopting regulations;4. To secure information as a basis for recommending legislation relating to Miss. Code Ann. §§ 97-33-301 through 97-33-317; and5. To determine annual compliance with Miss. Code Ann. §§ 97-33-301 through 97-33-317.(b) A fantasy contest operator must annually provide a third-party audit of its operations to the Commission. This audit must be performed to certify to the Commission that the operator is complying with all operational, financial, and technical requirements of the Fantasy Contact Act and these regulations. (c) A fantasy contest operator must provide audited financial statements to the Commission within ninety (90) days after the last day of the operator's fiscal calendar year.(d) A fantasy contest operator must comply with any additional audit procedures and requirements that the Commission may prescribe to ensure compliance with applicable laws and regulations.Miss. Code Ann. §§ 97-33-305(4) and 97-33-315.