This weekend, Minister for Financial services, Gilbert Licudi, attended the FONDS 13 conference and exhibition in Zurich. Also in attendance of the conference was the Gibraltar Funds and Investments Association (GFIA) who has six member firms exhibiting at the conference.
Speaking at the event, Minister Licudi noted Gibraltar’s status within the EU and its access to the single market. He also stressed that ‘Gibraltar is well on course for the transposition of AIFM and we are determined to hone our funds product range still further so as to become even more attractive for Swiss asset managers to consider using Gibraltar in various ways’.
In response to the GSD’s recent statement on Gibraltar Savings Bank Debentures, the Government has claimed that their policy to redeem debentures early is in order to provide these through the Savings Bank, the liabilities of which are secured on Government finances by law.
The Government is pursuing this objective in a manner that takes due care of its debenture-holders, who currently hold over 60% of this public debt, and who are mainly senior citizens of our community that have come to depend on the monthly interest that they earn on their debentures.
The UK Government met late last week with the Gibraltar Government to discuss number of issues. Discussions were led by Chief Minister Fabian Picardo and included Deputy Chief Minister Dr. Garcia, Chief Secretary Ernest Gomes and Chief legal Officer, Michael Llamas.
The Government has announced that regarding the libel case brought against Sr. Paco Ponce of Cross border Association Citypeg, by Minister Joe Bossano and GJBS, the three parties have reached a settlement. On 2nd February, Sr. Ponce apologised to Minister Bossano noting that the group raised a possible case of discrimination and not a personal accusation against anyone. The group claimed that they do not want to crate confrontation with the Gibraltar Government.