Mar 18 - Government Publishes Brexit Statement For Financial Services Sector

Written by YGTV Team on 18 March 2019.

The Government of Gibraltar has published a detailed Brexit Statement for the Financial Services Sector.

The Statement sets out the framework for the post Brexit environment and addresses a range of topics including the European Union (Withdrawal) Act, the status of Gibraltar under EU law, arrangements between the UK and Gibraltar and Gibraltar’s Temporary Permissions Regime.

Gibraltar’s Minister for Commerce, Albert Isola, said: “The ongoing discussions between the United Kingdom and the European Union in respect of the final Brexit agreement have created uncertainty for many businesses across Europe. This contrasts with the strong and clear co-operation that has taken place between the Governments of the United Kingdom and Gibraltar whereby there will continue to be seamless reciprocal passporting in financial services between the UK and Gibraltar even in the event of a hard Brexit on 29th March 2019.”

The Gibraltar Financial Services Commission (GFSC) also issued information and guidance for firms with regards to Brexit preparedness.

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