Hassans International Law Firm Limited (‘Hassans’) notes the decision taken by the Financial Action Task Force (‘FATF’) in relation to Gibraltar’s compliance with the recommended actions that were published in the Mutual Evaluation Report by Moneyval.
Hassans notes that Gibraltar’s compliance with all seventy eight of the original recommendations is largely complete and that, as at 17 June 2022, there only remain two recommendations which the Gibraltar Government and relevant agencies are continuing to work to comply with.
Commenting on the news of the FATF’s decision, Grahame Jackson, partner at Hassans, explained that “the Government of Gibraltar and those authorities and agencies tasked with working on our compliance with all the recommendations have come very far indeed. We remain to fully comply, to the FATF’s satisfaction, with two points and it is evident that progress in these areas is being achieved. The original report made a full suite of seventy eight recommendations which, as we have gleaned from the news today, we are now largely complying with. This is no mean feat.”
Mr Jackson concluded by concurring with the statement issued earlier by GOG; “I am confident that complying with the two remaining recommendations is something that the jurisdiction can quickly achieve and that it will quickly return to full white-listed status. As much as has been done to comply with seventy six other recommendations, I have no doubt that this, as has been the case with other jurisdictions, will be something that we as a jurisdiction will be putting right in a matter of months. The Government’s commitment to the agreed final action plan is proof positive of our determination to conclude this sooner rather than later.”
Grahame is a Solicitor and partner with the firm specialising in Tax. He is a specialist in both domestic and international tax, working on numerous matters which have a tax element to them, he also has experience of a wide range of matters including business law, personal taxation and residence etc.
Grahame is available for interview. Please contact Selwyn.Figueras@hassans.gi or Nic.Parrington@hassans.gi to arrange.