Gibraltar FSC To Share Regulatory Info With IOSCO
by Jason Gorringe, Lowtax.net, London
16 January, 2014
Gibraltar's Financial Services Commission (FSC) announced on January 08, 2014 that it has become a full signatory of the Multilateral Memorandum of Understanding (MMoU) of the International Organization of Securities Commissions (IOSCO).
The signing was contingent upon the government's enactment of the Financial Services (Information Gathering and Co-operation) Act 2013, which took place in October last year.
The IOSCO MMoU is an international protocol between financial services regulators for the provision of assistance and exchange of regulatory information between regulators on financial services in the area of investment services.
A statement released by the Minister with responsibility for Financial Services, Albert Isola, stated: "The Government is committed to ensuring that all aspects of financial services regulation continue to meet international standards. We are committed to a culture of compliance with European and International obligations and standards."
The Financial Services (Information Gathering and Co-operation) Act 2013 is now firmly established in the working practices of the FSC both for international cooperation as well as the legal basis upon which the FSC obtains regulatory information for its own purposes.
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