Commission

The Commission is a statutory body corporate established by the Financial Services Commission Act, 2007. It consists of the Chief Executive as ex-officio member and seven other persons, at least two of these persons shall have significant experience of regulation and supervision of finance services business in another jurisdiction . The Chief Executive and the other members are appointed by the Minister with responsibility for financial affairs.   The Commission has a separate Chairman appointed from within the seven members of the Commission.

The current Commission consists of:

Name	Appointed From	Appointed To	Bio
Mr Marcus Killick (Chief Executive) LLb, Mphil			(Chief Executive) LLb, Mphil, Fellow of the Securities Institute, took over as Chairman and Commissioner of the Commission on 5th April 2003 and became its first Chief Executive following the introduction of the Financial Services Commission Act 2007. Mr Killick is an English barrister by training and is also a member of the New York State Bar. From 1998 until 2003 he was a Director in the International Regulatory Services Team of KPMG, based in the UK. He has also previously held positions as Deputy Chief Executive of the Isle of Man Financial Supervision Commission, and Head of Banking, Trusts and Investment Services at the Cayman Islands Monetary Authority.
Joseph Caruana	30 July 2003	29 July 2012	Mr Caruana is Director and Chairman of Deloitte Limited, the Gibraltar country practice and member firm of Deloitte Touche Tohmatsu. He is also a member of the Gibraltar Investor Compensation Scheme. Prior to joining the Commission he was Chairman of the Gibraltar Finance Centre Council and served two years as President of the Gibraltar Society of Chartered and Certified Accountancy Bodies and has served on the Audit Registration Board.
Franco Cassar	1 October 2003	30 September 2012	Mr Cassar is the Director and Country Manager of Barclays Wealth Gibraltar, previously having been MD of SG Hambros Gibraltar and NatWest Gibraltar. Prior to joining the Commission, Franco was President of the Gibraltar Bankers' Association and a member of the Gibraltar Financial Centre Council. Is currently a member of the Executive of the Gibraltar Bankers Association, Honorary Consul for Malta in Gibraltar, member of the executive of the Gibraltar Chamber of Commerce and a member of the St John's Ambulance Council in Gibraltar.
Nigel Feetham	28 May 2007	27 May 2010	Nigel is a partner of Gibraltar law firm Hassans and specialises in financial services licensing, regulation and structuring. He has been a leading figure in the financial community for a number of years and has played a major part in some of the most significant developments in the Gibraltar finance sector.  One of his key areas of involvement has been in insurance. He helped to draft the relevant legislation that opened the way for the insurance sector to develop in Gibraltar and was involved in advising the Financial Services Commission on the practical implementation of the “insurance passport”. He has also helped to structure and set up numerous Gibraltar insurance companies and is the director of a number of Gibraltar insurers. Other financial services sectors in which Nigel works in include repackaging, structured finance and funds. In 2005 he was a member of the Government of Gibraltar Working Group on the modernization of Gibraltar’s funds legislation.
Brian Hilton (Chairman) CB	1 October 2002	30 September 2011	Mr Hilton is currently a Director of a number of companies, including Pool Re and Pool Re (Nuclear) Reinsurance companies and Converium Insurance (UK) Limited. He was appointed the LIFFE Complaints Ombudsman for three years in October 2007. He was formerly Director General of the Department of Trade and Industry in the UK responsible for Corporate and Consumer Affairs including Competition Policy and Corporate Governance.
John Tattersall MA FCA	1 October 2009	30 November 2012	John is a former senior client relationship partner of PricewaterhouseCoopers LLP in the United Kingdom, where he was head of their Financial Services Regulatory Practice for many years. He is a non-executive director of RS Raphael & Sons PLC (“Raphaels Bank”), of English Touring Opera and of the South East Institute for Theological Education, and also a member of the Court of the Royal Foundation of St Katherine. He is Consultant Editor and joint author of “A Practitioner’s Guide to the Basel Accord” and “A Practitioner’s Guide to FSA Regulation of Banking”. In 2008 he was awarded the “Compliance Personality of the Decade” award by Complinet. He is a non-stipendiary priest in the Church of England.
Robert Vasquez Llb	1 August 2006	31 July 2012	Barrister, partner of Triay & Triay, member of the St. John Ambulance Council in Gibraltar. He has been Chairman of the General Council of the Bar in Gibraltar and a member of the Admissions and Disciplinary Committee of the Bar, Gibraltar Finance Centre Council, Tax Reform and Revenue Working Group, the Legislative Advisory Committee and the Deposit Guarantee Board.
Alan Whiting BA M.Sc.	27 January 2008	26 January 2011	Mr Whiting has since September 2004 been Chairman and Managing Director of his services firm Merlan Financial. From 1997 to 2004, he was the Executive Director: regulation and Compliance at the London Metal Exchange. Formerly, Alan was Under Secretary, Director of Financial Regulation at HM Treasury and held a number of Under Secretary posts at The Department of Trade and Industry. Alan is also a non-executive board member of The Banking Code Standards Board and The London International Financial Futures Exchange (LIFFE), part of the NYSE/Euronext Group.

Meeting Number	99	98	97	96	95	94	93	92	91	90	89
Marcus Killick	X
Joseph Caruana											X
Franco Cassar		X
Nigel Feetham
Brian Hilton
Robert Vasquez									X
John Tattersall
Alan Whiting
Attendance at Commission Meetings by Members

The functions of the Commission are to keep under review the operation of Gibraltar legislation and the effectiveness of supervision of financial services; to monitor the extent to which Gibraltar legislation and supervision complies with European Union obligations and supervisory standards governing financial services in the United Kingdom where Community law applies; to protect the public against financial loss arising out of dishonesty, incompetence or malpractice; to advise the Government of Gibraltar and the Government of the United Kingdom on matters concerning financial services; and to draw up codes for regulating the terms of service of persons employed by the Commission.

The Chief Executive Officer, who is also the Commissioner of Banking and the Commissioner of Insurance, is charged with the responsibility of supervising institutions carrying on finance business in or from within Gibraltar. He is required to ensure that such supervision complies with any applicable obligation Gibraltar has as a constituent of the European Union and to establish supervisory standards which match those required by legislation and supervisory practice governing the provision of financial services within the United Kingdom.

Commission Members are not appointed as representatives of a constituency. They are appointed as individuals to bring their personal qualities and experience for the benefit of the Commission. Supervisory bodies need to be independent and this policy preserves the objectivity and independence of the Commission.

The Commission conducts an annual assessment of the performance of the it's Members and the Chairman.  These are led by the Chairman and the Senior Independent Member respectively.  Findings of the performance reviews are discussed at the Commission meetings.

Commission Members are provided with formal induction training upon appointment to the Commission and maintain regular contact with industry and related parties in order to keep abreast of current issues.