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Payment Services and Bureaux - Dear CEO Letters

2013 Systems of Controls to prevent financial crime
With the bringing into effect of the Crimes Act 2011 a number of new and revised financial crimes were introduced into the statute books. This letter aims to provide regulated firms with guidance on our expectations of the systems of control that we expect to see in regulated firms in this respect.

Payment Services and Bureaux - Forms and Returns

Money Transmitters Return
Individual Questionnaire
Body Corporate Questionnaire
Payment Services Supervisory Return
Notes for completion of the Payment Services Return
Bureaux Return
Royal Gibraltar Police Vetting Application Form

Please note that an 'Individual Questionnaire' or a 'Notifiable Document' MUST be accompanied by a Royal Gibraltar Police Vetting Application Form in accordance with Section 30C of the Proceeds of Crime Act 2015.  The form must be submitted to the Gibraltar Financial Services Commission, who will liaise with the RGP in order to make the relevant enquiries.

For any applicant that is not a Gibraltarian, or has not lived in Gibraltar for the last 10 years, in addition to the RGP vetting form, he/she must also provide the GFSC with a report of their criminal record from the relevant authority in the jurisdiction/s in which they have been ordinarily resident for the last 10 years and/or from any other jurisdiction where the applicant has spent a considerable amount of years resident in the past.  If the report is not in English, this must be accompanied by a translation from a certified Translator.

 

Notes for completion of the Royal Gibraltar Police Vetting Application Form:

1.     The RGP Vetting Form must be completed by the applicant in full. Should any section be incomplete, this cannot be accepted. 

Note that the section in the form that states ‘To be completed by agency or organisation requiring vet’ should be left blank as this section is to be completed by the GFSC only. 

2.     All RGP Vetting Forms MUST be submitted together with the applicable Individual Questionnaire or Notifiable Document to which it relates. 

Should exceptional circumstances apply, please contact authorisations@gfsc.gi 

3.     The RGP and Individual Questionnaire or Notifiable Document cannot be accepted without any of the following:

a)    Payment of the £10 applicable fee by bank transfer only; and

In order to obtain the relevant bank details, please liaise with the member of staff at the GFSC who is processing the application and they will provide you with the required information. Should you be unsure of the contact details, then please refer your query to authorisations@gfsc.gi 

b)    APPLICATION Reference number. 

This reference number MUST be quoted in the payment reference for any bank transfer. Should you have numerous payments to settle due to a large number of applications, or find that you are unable to include all relevant references within the payment details, please ensure that you communicate this to the member of staff at the GFSC who is processing your application. We will require an e-mail confirming the applicable reference numbers that correlate to each individual, notifiable applicant or RGP Vetting Form.

For any further queries, please contact authorisations@gfsc.gi and a member of staff will be happy to assist. 

 

 

1 2018 Individual Questionnaire Warranty
1 2018 Body Corporate Questionnaire Warranty
1 2018 Individual Questionnaire Directors Declaration

Payment Services and Bureaux - Guidance Notes

Anti Money Laundering and Counter Terrorism Financing Guidance Notes
1 2008 Money Services Business - The Application Process
1 2011 Payment Services Regulations Guidance Note

Payment Services and Bureaux - Legislation

ACT 47 1989 Financial Services (Investment and Fiduciary Services) Act
LN 85 1991 Financial Services (Licensing) Regulations, 1991
LN 94 1991 Financial Services (Conduct of Business) Regulations, 1991
LN 147 1993 Financial Services (Penalty Fees) Regulations, 1993
LN 79 2008 Financial Services (Investment and Fiduciary Services) (Money Service Business) Regulations 2008
LN 80 2008 Financial Services (Fees)(Amendment) Regulations, 2008
LN 81 2008 Financial Services (Licensing) (Amendment) Regulations 2008
LN 82 2008 Financial Services (Money Service Business) (Transitional Provisions) Regulations 2008
ACT 9 2008 Bureaux de Change (Repeal) Act 2008
Act 1 2010 Counter Terrorism Act
ACT 2 2010 Financial Services (Investment and Fiduciary Services) (Temporary Administration Of Companies) Act 2010
LN 71 2010 Financial Services (Fees) Regulations 2011
LN 78 2010 Financial Services (EEA)(Payment Services) Regulations 2010
LN 81 2010 Financial Services (Banking)(Amendment) Regulations 2010
LN 82 2010 Financial Services (Investment and Fiduciary Services)(Amendment) Regulations 2010
LN 47 2012 Financial Services (Fees)(Amendment) Regulations 2012
LN 76 2012 Financial Services Commission (Supervisory Acts) Order 2012
ACT 22 2013 Financial Services (Information Gathering and Co-operation) Act 2013
Act 14 2015 Proceeds of Crime Act 2015
LN 71 2016 Financial Services Commission (Fees) Regulations 2016

Payment Services and Bureaux - Newsletters

FSC 1 2002 Fitness and Propriety
1 2009 The Payment Services Directive
FSC 11 2012 Enhancing the confirmations provided by Statutory Auditors and Audit firms for the Capitalisation of Licenced Companies
FSC 3 2012 Annual Fees Update 2012
FSC 1 2013 Euro Exchange Rates for the twelve month period commencing 31 December 2012
FSC 5 2013 Financial Services (Information Gathering and Co-operation) Act
FSC 8 2013 Country Risk Update
FSC 5 2014 Euro Exchange Rates for the twelve month period commencing 31 December 2014
FSC 2 2015 Euro Exchange Rates for the 12 month period commencing 31 December 2015
FSC 2 2015 Country Risk Update
FSC 1 2016 Country Risk Update 01/16
Improving Global AML/CFT Compliance: on-going process.
FSC 2 2016 Country Risk Update 02/16
Improving Global AML/CFT Compliance: on-going process.
FSC 3 2016 Country Risk Update 03/16
Improving Global AML/CFT Compliance: on-going process.
FSC 4 2016 Euro Exchange Rates for the 12 month period commencing 31st December 2016
FSC 4 2016 Country Risk Update 04/16
Improving Global AML/CFT Compliance: on-going process
GFSC 1 2017 Country Risk Updates 01/17
GFSC 2 2017 Country Risk Updates 02/17
GFSC 5 2017 Euro Exchange Rates for twelve month period commencing 31 December 2017
GFSC 2018 GFSC Fees Newsletter 2018-2019
GFSC 1 2018 Country Risk Updates 01/18

Payment Services and Bureaux - Presentations

11 2006 Presenting the revised AML/CFT Guidance Notes
David Parody
11 2007 The revised AML/CFT Guidance Notes
GACO - David Parody
11 2007 The FSC's approach to AML/CFT Compliance
GACO - David Parody
3 2009 Revised Risk Assessment Methodology, Corporate Governance and Approved Persons
Gibraltar Insurance Institute - Gibraltar Society of Chartered & Certified Accountancy Bodies - Gibraltar Association of Compliance Officers David Parody
4 2012 GACO-FSC Risk Methodology Workshop
Slides, case study and templates for the GACO workshop held on 14 November 2012 by the FSC