Following HM Government of Gibraltar’s (HMG) statement on the jurisdiction’s readiness for an orderly exit from the European Union, the Gibraltar Financial Services Commission (GFSC) has issued information and guidance for firms with regards to Brexit preparedness.
The information covers:
1. Brexit guidance for firms, including the GFSC’s expectations concerning appropriate consumer communication (click here).
2. Temporary Permissions Regime and Financial Services Contracts Provisions for passporting EEA firms to continue to operate within Gibraltar and to allow for continuity of contracts post-Brexit (click here).
For more information on the Temporary Permissions Regime and the Financial Services Contracts Provisions, please see the draft Financial Services (Passport Rights and Transitional Provisions) (EU Exit) Regulations 2019
As previously communicated by HMG, the UK and Gibraltar have agreed continued access to each other’s markets through the Gibraltar Order and changes to Gibraltar legislation. The arrangements for access by Gibraltar and UK firms as set out in the revised Order will apply until 31 December 2020. In the interim, the UK and Gibraltar will be working together to agree a new long-term relationship for access to each other’s markets.
For more information please contact firstname.lastname@example.org