The Gibraltar Financial Services Commission (GFSC) and the Gibraltar Regulatory Authority (GRA) in its capacity as Information Commissioner recently signed a Memorandum of Understanding (MoU) establishing principles of cooperation between Gibraltar’s financial services regulator and the Information Commissioner.
The MoU provides scope and authority in the exchange of information and intelligence between the GFSC and the GRA, increasing investigative assistance between the two organisations when performing their respective functions.
This formal agreement underlines the mutual commitment to further strengthen cooperations and enhance regulatory standards within the jurisdiction.
GFSC CEO, Kerry Blight, said: “This a significant step towards building on our domestic partnerships, establishing a robust framework for effective collaboration with the GRA with the shared goal of protecting consumers, market confidence and Gibraltar’s good reputation as an international financial services centre.”
GRA CEO, John Paul Rodriguez, said: “The GRA and GFSC play pivotal roles in the growth and permanency of Gibraltar as a reputable financial and business centre. With personal data processing increasingly commonplace amongst providers of financial services, cementing the long-standing relationship between both regulators can only help to strengthen our relative positions, whilst further protecting the rights and freedoms of individuals.”
The MoU between the GFSC and the GRA can be found at https://www.gra.gi/data-protection/reg-coop