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Gibraltar Financial Services Commission and the Information Commissioner sign Memorandum of Understanding

10 Nov 23

The Gibraltar Financial Services Commission (GFSC) and the Gibraltar Regulatory Authority (GRA) in its capacity as Information Commissioner recently signed a Memorandum of Understanding (MoU) establishing principles of cooperation between Gibraltar’s financial services regulator and the Information Commissioner. 

The MoU provides scope and authority in the exchange of information and intelligence between the GFSC and the GRA, increasing investigative assistance between the two organisations when performing their respective functions. 

This formal agreement underlines the mutual commitment to further strengthen cooperations and enhance regulatory standards within the jurisdiction. 

GFSC CEO, Kerry Blight, said: "This is a significant step towards building on our domestic partnerships, establishing a robust framework for effective collaboration with the GRA with the shared goal of protecting consumers, market confidence and Gibraltar’s good reputation as an international financial services centre."

GRA CEO, John Paul Rodriguez, said: “The GRA and GFSC play pivotal roles in the growth and permanency of Gibraltar as a reputable financial and business centre. With personal data processing increasingly commonplace amongst providers of financial services, cementing the long-standing relationship between both regulators can only help to strengthen our relative positions, whilst further protecting the rights and freedoms of individuals.”

The MoU between the GFSC and the GRA can be found here.

Notes to Editors

1. The GFSC is a regulator of the Gibraltar financial services market, regulating providers of financial services conducted in both Gibraltar and other jurisdictions. The GFSC's vision is to be an efficient, forward looking, and credible regulator, that is fair and proportionate, and works collaboratively with stakeholders.

2. The GFSC's regulatory objectives are the promotion of market confidence; the reduction of systemic risk; the promotion of public awareness; the protection of the good reputation of Gibraltar; the protection of consumers and the reduction of financial crime. 

3. The Information Commissioner is the Chief Executive Officer of the Gibraltar Regulatory Authority (GRA) established by statute as Gibraltar’s independent regulator, to ensure the adequate protection of personal data, uphold information rights, and promote openness by public bodies. 

4. Regulatory matters falling within the Information Commissioner’s remit include those relating to the following: Gibraltar General Data Protection Regulation; Data Protection Act 2004; Data Protection (Search and Seizure) Regulations 2006; The Communications (Personal Data and Privacy) Regulations 2006; Freedom of Information Act 2018; Freedom of access to Information on the Environment Regulations 2005. 

 

Press Release contact details

Contact Name

Press office

Contact E-mail

[email protected] 

Address

Gibraltar Financial Services Commission
PO Box 940
Suite 3, Ground Floor
Atlantic Suites
Europort Avenue
Gibraltar

Tel

+350 200 40283 

Fax

+350 200 40282

Web-site

www.gfsc.gi