A business cannot effectively manage obligations it has not identified. That is ultimately why an obligations register matters, it creates a single source of truth about what the business is required to do to remain compliant. Without one, even a well-intentioned business risks relying on individual knowledge and fragmented records to manage its regulatory responsibilities.
An obligations register is a single, organised record of the legal, regulatory, licensing and contractual obligations a business must meet, who is responsible for each one, and when it is due. It is the foundation of any compliance framework. Building one takes real effort, but keeping it up to date is where most organisations fall short.
For wagering, gaming and racing businesses, the stakes are particularly high. Operators must navigate overlapping Commonwealth, state and territory requirements, licence conditions, approvals and regulator expectations.
What is an obligations register?
In practical terms, it acts as the master checklist for the business’s compliance framework, bringing together:
• what each obligation requires
• where it comes from, such as an Act, regulation, licence condition, agreement, ministerial direction or regulator letter
• when each obligation must be met: a fixed date, a recurring cycle or a triggering event
• who in the business owns it
• what evidence shows it has been met
Without a register, obligations live in people's heads, inboxes and old files. That works until someone leaves, a deadline is missed, or a regulator asks you to demonstrate compliance.
Why does an obligations register matter?
Every other part of a compliance framework depends on it. Risk assessments, controls, training, monitoring and board reporting all depend on first identifying the obligations that apply to the business.
Without an obligations register, businesses are at greater risk of inadvertently failing to meet their regulatory obligations, and the consequences of non-compliance can extend well beyond financial penalties. Regulatory enforcement measures, including enforceable undertakings, can require extensive remediation, imposing significant financial, operational and management burdens.
A current register also changes the conversation with regulators. It enables a business to demonstrate which obligations apply, how they are managed and the evidence supporting compliance.
What should an obligations register include?
For each obligation, a practical register usually records:
• jurisdiction
• a plain-English summary of the obligation
• its source (legislation, regulation, licence, regulator requirements, ministerial directions, or agreements)
• frequency or triggering event
• internal owner
• relevant regulator
• related policies, procedures and controls
• approval or reporting requirements
• evidence required to show compliance
• consequences of non-compliance
• current status
• next review or due date
A well-structured spreadsheet can work for a smaller business; larger operators often use compliance software. The format matters less than the discipline behind creating and maintaining it.
What obligations apply to a wagering operator?
For an Australian wagering business, core obligations typically come from:
• responsible service of wagering requirements
• anti-money laundering and counter-terrorism financing (AML/CTF) laws
• licence conditions and system approvals from state regulators
• the Interactive Gambling Act 2001 (Cth)
• state-based gambling legislation and regulations
• the National Consumer Protection Framework for online wagering, including BetStop
• the Privacy Act 1988 (Cth)
• race fields approvals and fees
• point of consumption tax
• integrity agreements with sports bodies
• various marketing and inducement requirements in each state
• commitments made to or required by individual regulators
A comprehensive register may go further, capturing corporate, employment, tax and other operating obligations across the business’s broader regulatory "universe".
Why is building an obligations register so resource intensive?
Building a comprehensive obligations register requires careful and detailed work. A business must first identify the full range of regulatory documents and requirements that apply to it, which may be spread across jurisdictions, legislation, regulations, licence conditions, approvals, agreements, ministerial directions, regulator correspondence and other sources.
Each relevant document then needs to be fully and systematically reviewed to determine the obligations it creates for the business, what that obligation requires and when it applies. For businesses operating across multiple jurisdictions or under complex regulatory frameworks, the volume and diversity of these requirements can make this a significant undertaking.
Proportionality matters. The design and operation of a compliance framework, including the level of detail within the obligations register, should be proportionate to the operator’s scale, products, operating model and risk profile. That principle does not, however, reduce the underlying obligations that apply. A smaller wagering operator may remain subject to a substantial regulatory burden, even where the governance arrangements and controls used to manage that burden are appropriately less complex.
A practical, risk-based approach can help manage the cost and effort involved:
prioritise the areas presenting the greatest regulatory or operational risk;
determine which aspects can appropriately be undertaken internally and where specialist external input or independent review may add value; and
assess the consequences and likelihood of non-compliance so that resources and controls can be directed to the areas of greatest exposure.
Why do most organisations fail to keep the register up to date?
This is the bigger challenge. Laws change, licence conditions are varied, new products launch, regulators send letters and people change roles. A register that was accurate on day one quietly drifts out of date, and an out-of-date register can create false confidence.
Organisations that keep their register current tend to:
make one executive accountable for it, even if sections are delegated
keep an annual calendar of recurring deadlines
log every new law, licence change or regulator letter as it arrives – ownership of this task needs to be clear
use pre-launch checklists so new products and systems trigger a register check
conduct and document an annual review of the register to confirm that it remains complete, accurate and fit for purpose, including that new or amended obligations have been captured. For larger organisations, this process may involve allocating relevant sections to individual business functions for review and validation by personnel with appropriate subject-matter expertise
report its status to the board
Regular review does more than keep the register current. It also keeps contingent, event-driven and infrequently encountered obligations front of mind, reducing the risk that they are overlooked simply because they do not arise in day-to-day operations. This helps prevent the register becoming a “set and forget” document and reinforces its role as an active compliance tool.
Frequently asked questions
Is an obligations register a legal requirement? Few laws require a document by that name. But regulators expect licensed operators to know and meet their obligations, and the international compliance standard ISO 37301 treats identifying obligations as a core step.
How often should it be reviewed? It should be updated whenever a relevant legal, regulatory, licensing or operational change occurs, and formally reviewed at least periodically as part of the broader compliance framework.
Who should own the register? One executive should be accountable for it overall, with day-to-day owners for each obligation.
Spreadsheet or software? Either can work. What matters is that it is complete, owned and kept current.
Where to start
Where it is not practicable to build the complete register at once, implementation may be staged under a documented plan, beginning with the highest-risk areas and maintaining a clear timetable for completing the remaining scope. The objective is not simply to create a register, but to establish a practical compliance tool that is embedded in the business and actively used to manage its obligations.
About Senet
Senet is a multidisciplinary Australian firm specialising in gambling and gaming law, regulatory compliance, and business advisory services. We are the largest specialist team in Australia and based in Victoria. Recognised globally as experts in our field, we understand Australia’s complex gaming legal and regulatory landscape, enabling us to guide clients through their compliance requirements across each state and territory. Our clients range from start-ups to publicly listed global operators, both nationally and internationally. Our team is deeply immersed in the industry, often sharing insights at public speaking events, and our principals have held executive roles in a global ASX-listed entity and a 'Big Four' advisory firm, giving us a unique perspective on the challenges our clients face.
If you have any questions or would like to discuss the topics covered in this article, please contact the team at Senet.
