A Memorandum of Understanding on exchange of information has been entered
into between the UK's Financial Services Authority (FSA) and the Financial
Services Commission (FSC) and the Commissioner of the FSC of Gibraltar.
The Memorandum was signed in London on 27th August 2004 and establishes a
formal basis for co-operation, including the exchange of information and
investigation assistance. The agreement commits both regulators to providing
full assistance within the limits of the respective laws of the two
jurisdictions, defining confidentiality constraints and setting up
procedures and liaison points so that information requests can be handled
speedily and efficiently.
In welcoming the MOU, the FSC's Commissioner, Marcus Killick stated that:
"The MoU augments the excellent working relationships that already
exist between the two regulatory authorities which includes regular
contact between the FSC and the FSA. It also enhances the FSC's capacity
to keep abreast of UK regulatory developments."