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Gibraltar Ups Financial Sector Oversight With Police MoU

by Mike Godfrey, Lowtax.net, Washington
04 July, 2014

To improve oversight of the financial sector and strengthen compliance efforts, the Gibraltar Financial Services Commission has signed a Memorandum of Understanding (MoU) with the Royal Gibraltar Police (RGP).

The MoU is intended to formalize co-operation between the two organizations, in particular with regard to information exchange, and to underpin their existing working relationship.

The MoU also formalizes the necessary framework for further co-operation and provides for officer secondments between the two organisations.

Gilbert Licudi, Gibraltar's Minister for Justice, said: "Cooperation between relevant institutions that are capable of providing each other assistance or knowledge is crucial to deliver an efficient public service. This initiative highlights the type of professional service that can be achieved to serve a common interest and achieve mutual aims and objectives."

Albert Isola, Gibraltar's Financial Services Minister, said: "I would like to congratulate the Royal Gibraltar Police and the Financial Services Commission on this very important initiative. The signing of this memorandum of understanding further underscores and cements the deep professional relationship that has been in existence since the inception of the Commission almost 25 years ago."

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