Transitional Provisions Extended Until December 2026

Last week the UK published the The Financial Services (Gibraltar) (Amendment) (EU Exit) Regulations 2025 (the “Statutory Instrument”).

Part 2 and 3 of the Financial Services (Gibraltar) (Amendment) (EU Exit) Regulations 2019 (SI 2019/589), set out the transitional provisions which allow specified categories of Gibraltar-based firms to provide financial services in the UK and facilitate the access by similar types of UK-based firms to Gibraltar’s financial services market (the “Transitional Arrangements”).

The Statutory Instrument extends the Transitional Arrangements by a further 12 months, until 31 December 2026. It is expected that Transitional Arrangements will be superseded by a framework which will be established under the UK's Financial Services Act 2021, the Gibraltar Authorisations Regime (the “GAR”), that will implement a permanent framework for the financial services industry to maintain market access between Gibraltar and the UK.