Gibraltar ‘walks tall’ at anti-corruption summit

Prime Minister David Cameron yesterday used an anti-corruption summit to defend the progress made by Britain’s Overseas Territories toward improving tax transparency.

He made the statement as he hailed the event as “the biggest demonstration of the political will to address corruption that we have seen for many, many years”.

Read More - Gibraltar Chronicle

Overseas territories spared from UK law on company registers

Crown dependencies and territories will not have to create registry of ownership that is open to public, minister says.

Britain will not make fresh demands of its overseas territories to end tax secrecy at an upcoming anti-corruption summit, the minister for the territories has confirmed. James Duddridge praised the leadership of the territories on tax transparency on Tuesday, saying they had taken a big step by agreeing to set up central registers of beneficial ownership that would be open to law enforcement agencies. 

Anti Tax Avoidance Package

The Anti Tax Avoidance Package is part of the Commission's ambitious agenda for fairer, simpler and more effective corporate taxation in the EU. The Package contains concrete measures to prevent aggressive tax planning, boost tax transparency and create a level playing field for all businesses in the EU.

It will help Member States take strong and coordinated action against tax avoidance and ensure that companies pay tax wherever they make their profits in the EU.


Beware of Natwest Scam

Remember to be careful with emails - this is an example of another scam going around. Don't click, ignore and delete!

What should you do if you’ve received a scam email?

  • Do not click on any links in the scam email.
  • Do not reply to the email or contact the senders in any way.
  • If you have clicked on a link in the email, do not supply any information on the website that may open.
  • Do not open any attachments that arrive with the email.

Monkeys, Sun and Fish & Chips: The Rock That Fears a `Brexit'

From the sun-scorched tip of Spain, Charles Catania has a message for British voters as they make up their minds whether to remain in the European Union. QUICKTAKE Will Britain Leave the EU? “People in the U.K. need to think of it from our perspective,” said the 62-year old pensioner. “They are an island surrounded by friends. Our situation is different.”

Like two family generations before him, Catania is one of the 33,000 inhabitants of Gibraltar, a British overseas enclave for more than three centuries and disputed by Spain for much of it. Dependent on an open border for trade and labor, few places can be as keen to remain in the European single market as what’s known as the Rock.

Full Article Here (Bloomberg)

Finma Allows Video and Online Identification

Swiss financial market regulator Finma has decided to allow the digital identification of customers, paving the way for a better market access for fintech companies. Some hurdles will remain.

Finma today released the regulation on the use of video and online identification of customers, which will become effective tomorrow, March 18. The regulation revolves around the question of which demands a financial services company must satisfy in the identification of a potential client when it opens a business relationship. This is a precondition for many business models of fintech companies.

Read more here:


ISO 19600: Your questions, our answers

The new international standard for compliance management systems, ISO 19600, was published on 15 December 2014. It raises the following questions:

Who developed the standard?

What are the objectives behind it?

What is the point of it and what will change?

A representative from digital spirit was a member of the committee that created the draft standard. As a result, we are in a position to provide reliable answers to these questions as well as many others in our clearly structured FAQ on ISO 19600.

Continue Reading

Member Benefits

✔ Latest compliance laws and regulations updates
✔ Certification and training
✔ 10% Discount on course and training costs
✔ 10% Discount for events and conferences
✔ Business Networking in Gibraltar
✔ Access to member forums


Contact Information

Gibraltar Association of Compliance Officers,

PO Box 1493, Gibraltar