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Investment Services - Dear CEO Letters

2013 Systems of Controls to prevent financial crime
With the bringing into effect of the Crimes Act 2011 a number of new and revised financial crimes were introduced into the statute books. This letter aims to provide regulated firms with guidance on our expectations of the systems of control that we expect to see in regulated firms in this respect.

Investment Services - Forms and Returns

Statement of Compliance
The Statement of Compliance ("SoC") should be submitted to the Commission within four months of the end of a firm's accounting period. A separate SoC is required from each regulated persons within the same group, where these carry out different activities and submit separate audited accounts. For example, where a group includes firms that carry out distinct activities i.e. insurance management, company management and professional trusteeship or investment business, and submit separate accounts to each of the respective divisions of the Commission, a separate SoC will be required from each of these firms.
Investment Firm Supervisory Return
Notes For Completion of the Investment Firm Supervisory Return
Transaction Reporting System example CSV file
Individual Questionnaire
Basel II monthly return
Only to be submitted by firms with a Category 1 authorisation.
Body Corporate Questionnaire
Large Exposure Exemption Form
Investment Firm Supervisory Return (COREP Filer)

Investment Services - Guidance Notes

Anti Money Laundering and Counter Terrorism Financing Guidance Notes

EBA Interactive Single Rulebook - Bank Recovery and Resolution Directive

EBA Interactive Single Rulebook - Capital Requirements Directive

EBA Interactive Single Rulebook - Capital Requirements Regulation

2 Outsourcing
Financial Services Guidance Note No. 2
3 Dealing with and Advising Clients
Financial Services Guidance Note No. 3
2007 Market Abuse - Acceptable Market Practices
2007 MiFiD - Client Categorisation
2007 MiFiD - Suitability, Appropriateness & Best Execution
2007 MiFiD - Managing Conflicts of Interest & related Organisational Requirements
2007 MiFiD - Provision of Information, Client Reporting & Record Keeping
2007 MiFiD - Transparency Requirements
2007 MiFiD - Transaction Reporting
2007 MiFiD - Glossary of terms
2007 CRD - Pillar 1 - Operational Risk
2007 CRD - Pillar 1 - Credit Risk Standardised Approach
2007 CRD - Pillar 1 - Credit Risk IRB Approach
2007 CRD - Pillar 1 - Securitisation
2007 CRD - Pillar 1 - Financial Derivatives, SFTs and Long Settlement Transactions
2007 CRD - Pillar 1 - Market Risk
2007 CRD - Pillar 1 - ECAIs
2007 CRD - Pillar 1 - Concentration Risk
2007 CRD - Pillar 1 - Glossary
2007 CRD - Pillar 2 - ICAAP & the SREP
2007 CRD - Pillar 3 - Disclosures
2008 Audit requirements, & Other Obligations & Disclosures
2012 Remuneration
2012 Automated Trading Systems
ESMA 387 2012 Guidelines on certain aspects of the MiFID suitability requirements
ESMA 74 2013 Guidelines on exemption for market making activities and primary market operations

Investment Services - Legislation

ACT 47 1989 Financial Services (Investment and Fiduciary Services) Act
LN 85 1991 Financial Services (Licensing) Regulations, 1991
LN 95 1991 Financial Services (Advertisements) Regulations, 1991
LN 96 1991 Financial Services (Unsolicited Calls) Regulations, 1991
LN 98 1991 Financial Services (Accounting & Financial) Regulations, 1991
LN 138 1992 Banking (Regulation of Credit Institutions) Regulations, 1992
LN 74 1992 Financial Services (Accounting & Financial)(Amendment) Regulations, 1992
LN 146 1993 Financial Services (Advertisements)(Amendment) Regulations, 1993
LN 147 1993 Financial Services (Penalty Fees) Regulations, 1993
LN 151 1993 Financial Services Act (Amendment) Regulations, 1993
ACT 17 1993 Financial Services (Amendment) Act, 1993
LN 144 1995 Financial Services (Amendment to Schedule 3) Regulations, 1995
LN 147 1995 Financial Services (Licensing)(Amendment) Regulations, 1995
ACT 10 1998 Financial Services Act, 1998 (Repealed)
ACT 35 1998 Disclosure of Interests in Shares Act, 1998
ACT 9 1998 Financial Institutions (Prudential Supervision) Act, 1997
LN 27 2001 Financial Services (Listing of Securities)(Amendment) Regulations 2011
LN 28 2001 Official Listing (Amendment) Rules 2011
ACT 10 2002 Financial Services (Investor Compensation Scheme)
ACT 22 2002 Banking (Amendment) Act, 2002
LN 88 2002 Financial Services (Amendment) Regulations, 2002
LN 92 2002 Financial Markets and Insolvency (Settlement Finality) Regulations, 2002
LN 77 2003 Investor Compensation Scheme Act 2002 - Notice of Commencement
LN 6 2004 Financial Services (Licensing)(Amendment) Regulations, 2004
ACT 44 2005 Market Abuse Act, 2005
ACT 46 2005 Prospectuses Act, 2005
SI 1805 2006 The Financial Services and Markets Act 2000 (Gibraltar)(Amendment) Order 2006
ACT 23 2006 Financial Services (Distance Marketing) Act, 2006
ACT 31 2006 Financial Services (Take Over Bids) Act, 2006
ACT 32 2006 Financial Services (Markets in Financial Instruments) Act, 2006
ACT 42 2006 Financial Services (Amendment) Act, 2006
ACT 43 2006 Financial Services (Listing of Securities) Act, 2006
LN 55 2006 Financial Services (Conduct of Business in the United Kingdom) Regulations 2006
LN 57 2006 Financial Services (Conduct of Business: Investment Firms & Insurance Intermediaries) Regulations 2006
LN 1 2007 Financial Services (Capital Adequacy of Credit Institutions) Regulations, 2007
LN 10 2007 Financial Services (Investment Exchange) (Rules and Notification) Regulations, 2007
ACT 11 2007 Financial Services (Temporary Business Continuity) Act 2007
LN 119 2007 Financial Services (Markets in Financial Instruments) (Penalty Fees) Regulations 2007
LN 12 2007 Financial Services (Licensing) (Amendment) Regulations, 2007
LN 120 2007 Financial Services (Markets in Financial Instruments) Regulations 2007
LN 13 2007 Listed Securities (Notification of Major Holdings) Regulations, 2007
LN 14 2007 Official Listing Rules 2007
LN 2 2007 Financial Services (Capital Adequacy of Investment Firms) Regulations, 2007
LN 73 2007 Financial Services (Temporary Business Continuity) (Fees) Regulations 2007
LN 81 2007 Financial Services (Temporary Business Continuity) Act 2007
Act 1 2010 Counter Terrorism Act
ACT 2 2010 Financial Services (Investment and Fiduciary Services) (Temporary Administration Of Companies) Act 2010
LN 57 2010 Market Abuse (Amendment) Regulations 2010
LN 7 2010 Financial Services (Markets in Financial Instruments) (Amendment) Regulations 2010
LN 71 2010 Financial Services (Fees) Regulations 2011
LN 80 2010 Distance Marketing (Amendment) Regulations 2010
LN 82 2010 Financial Services (Investment and Fiduciary Services)(Amendment) Regulations 2010
LN 163 2012 Prospectuses Act, 2005
LN 47 2012 Financial Services (Fees)(Amendment) Regulations 2012
LN 72 2012 Financial Services (Fees)(Amendment)(No.2) Regulations 2012
LN 76 2012 Financial Services Commission (Supervisory Acts) Order 2012
LN 198 2013 Financial Services (Capital Requirements Directive IV) Regulations 2013
ACT 22 2013 Financial Services (Information Gathering and Co-operation) Act 2013
EU 575 2013 EU Commission Regulation
Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No 648/2012
EU 241 2014 EU Commission Delegated Regulation
Regulation (EU) No 241/2014 of 7 January 2014 supplementing Regulation (EU) No 575/2013 of the European Parliament and of the Council with regard to regulatory technical standards for Own Funds requirements for institutions
Act 14 2015 Proceeds of Crime Act 2015
LN 71 2016 Financial Services Commission (Fees) Regulations 2016

Investment Services - Newsletters

1 1992 Guidance Notes On The Marketing Of Collective Investment Schemes
2 1992 Best Market Practice. Section on Money Laundering Guidelines withdrawn October 1996
4 1992 Guidance Notes On Communications Between Auditors And The Commission
5 1992 Guidance Notes On "Know Your Customer"
1 1993 Fraud: Ghost Money, Funny Money, Ready Willing And Able To Deliver, Advance Fee Fraud
3 1993 The Use Of Personal Computer Systems: A Guide To Secure System Implementation
4 1993 Best Market Practice 2. The Sale And Marketing Of Life Assurance Products
6 1993 Penalties Regulations
2 1995 Best Market Practice. Mod Pension Transfers
3 1995 Sugar Frauds
1 1996 Criminal Justice Act, 1995
4 1996 Best Market Practice. Anti Money Laundering Systems, Controls and Procedures
2 1997 Advertising and the "Internet"
FSC 1 1998 The General Duties and Responsibilities of Directors
FSC 1 2002 Fitness and Propriety
FSC 1 2003 Retrospective "Know Your Customer" Reviews
FSC 2 2003 UN Sanctions: Freeze and transfer of Iraqi assets
FSC 1 2006 Risk Assessment Visits - Findings
FSC 2 2006 Customer Money
FSC 4 2006 Financial Services Legislation
FSC 5 2006 Background to the Capital Requirements Directive (Basel II)
FSC 6 2006 Markets in Financial Instruments Directive
FSC 3 2007 Distance Marketing
FSC 4 2008 Compliance with MiFID
FSC 2 2011 Financial Services (Capital Adequacy of Credit Institutions)(Amendment) Regulations 2010
This Newsletter provides, inter alia, a summary of the some of the changes to the Capital Requirements Directive via Directive 2009/111/EC which have been transposed via the Financial Services (Capital Adequacy of Credit Institutions)(Amendment) Regulations 2010.
FSC 6 2011 Euro Exchange Rates for the period commencing 31 December 2011
FSC 11 2012 Enhancing the confirmations provided by Statutory Auditors and Audit firms for the Capitalisation of Licenced Companies
FSC 3 2012 Annual Fees Update 2012
7 2012 Automated Trading Systems
FSC 1 2013 Euro Exchange Rates for the period commencing 31 December 2012
2 2013 Frequency of Director's Board meetings held for Regulated Firms
FSC 5 2013 Financial Services (Information Gathering and Co-operation) Act
FSC 6 2013 Capital Requirements Directive IV
FSC 7 2013 Euro Exchange Rates for the twelve month period commencing 31 December 2013
FSC 8 2013 Country Risk Update
FSC 1 2014 COREP Project Communication Update: Contingency Filing Facility
FSC 2 2014 COREP Project Communication Update: Invoke Filing Portal Available
FSC 5 2014 Euro Exchange Rates for the twelve month period commencing 31 December 2014
FSC 2 2015 Euro Exchange Rates for the 12 month period commencing 31 December 2015
FSC 2 2015 Country Risk Update
FSC 1 2016 Country Risk Update 01/16
Improving Global AML/CFT Compliance: on-going process.
FSC 2 2016 Country Risk Update 02/16
Improving Global AML/CFT Compliance: on-going process.
FSC 3 2016 Country Risk Update 03/16
Improving Global AML/CFT Compliance: on-going process.
FSC 4 2016 Euro Exchange Rates for the 12 month period commencing 31st December 2016
FSC 4 2016 Country Risk Update 04/16
Improving Global AML/CFT Compliance: on-going process
GFSC 1 2017 Country Risk Updates 01/17
GFSC 2 2017 Country Risk Updates 02/17

Investment Services - Presentations

11 2006 Presenting the revised AML/CFT Guidance Notes
David Parody
6 2006 Passporting of Investment Services to the UK
Marcus Killick
11 2007 The revised AML/CFT Guidance Notes
GACO - David Parody
11 2007 The FSC's approach to AML/CFT Compliance
GACO - David Parody
10 2008 The end of banking privacy
STEP Conference - Hong Kong - D Parody
2 2008 Gibraltar London Seminar Private Clients
Marcus Killick
3 2009 Revised Risk Assessment Methodology, Corporate Governance and Approved Persons
Gibraltar Insurance Institute - Gibraltar Society of Chartered & Certified Accountancy Bodies - Gibraltar Association of Compliance Officers David Parody
1 2010 ICAAP
The FSC's Expectations, Common Errors and pitfalls
ESMA 388 2012 Guidelines on certain aspects of the MiFID compliance function requirements
4 2012 GACO-FSC Risk Methodology Workshop
Slides, case study and templates for the GACO workshop held on 14 November 2012 by the FSC
1 2013 AIFMD - Regulatory Aspects
Slides from an FSC seminar held on 20th June 2013 by Joanne Beiso