Gibraltar positions itself as the Gateway to the UK

More good news for Gibraltar coming out of the UK as the Financial Services Bill 2019-21 was introduced to Parliament yesterday. 

The Financial Services Bill will establish a new permanent market access regime, the Gibraltar Authorisation Regime (GAR). This framework will ensure that Gibraltarian financial services firms can access the UK’s wholesale and retail markets on the basis of alignment of relevant law and practice, and close co-operation between the UK and Gibraltarian governments and regulators. The Bill will also make provisions to facilitate the access of UK-based firms to the Gibraltarian market.

This development puts Gibraltar firmly on the map as the "Gateway to the UK" for financial services firms.

This follows on from the proposals which were set out in a HM Treasury consultation paper published in March 2020: https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/871724/Consultation_for_publication_-_Market_access_between_UK_and_Gibraltar.pdf