N.J. Admin. Code § 13:74C-5.5

Current through Register Vol. 56, No. 21, November 4, 2024

Section 13:74C-5.5 - Corrective wagers permissible under certain circumstances

(a) The exchange wagering licensee may, under circumstances set forth in its internal control procedures as approved by the Commission pursuant to N.J.A.C. 13:74C-2.2, cause a corrective wager to be placed in a given market provided the placement of such wager is necessary to address the impact on that market of the cancellation or voiding of a given wager or given part of a matched wager, and provided that the cancellation or voiding of such given wager is due to the exchange wagering licensee's mistaken acceptance thereof.

(b) Corrective wagers may only be placed in a manner where no exchange revenues accrue to the exchange wagering licensee, any exchange management agent, or any exchange services agent.

(c) In the event the exchange wagering licensee causes a corrective wager to be placed pursuant to (a) above, it shall promptly cause to be filed with the Commission Supervisor of Mutuels a written report detailing the action taken, and the reasons in support of such action.

N.J. Admin. Code § 13:74C-5.5

Adopted by 47 N.J.R. 807(b), effective 4/20/2015.

Adopted by 56 N.J.R. 413(a), effective 3/18/2024