Brexit: Guidance for firms
Please note that the following information and guidance has been prepared to assist firms in the event of a no-deal Brexit. If a Withdrawal Agreement between the UK and the EU is agreed, including an implementation period, the provisions of the agreement will supersede any information contained in these pages.
Following HM Government of Gibraltar’s statement on the jurisdiction’s readiness for an orderly exit from the European Union, the Gibraltar Financial Services Commission (GFSC) has issued information and guidance for firms with regards to Brexit preparedness.
The Government’s statement can be found here
The Financial Services and Markets Act 2000 (Gibraltar) Order 2001 (Gibraltar Order) outlines the arrangements between Gibraltar and the UK for access to each other’s markets. The Gibraltar Order provides for access arrangements through deemed passporting rights. The UK is revising the Gibraltar Order in light of the UK’s exit from the EU and it will provide continued access for Gibraltar firms to the UK market and UK firms to the Gibraltar market. HM Treasury has published the draft revised Gibraltar Order and a copy can be found here.
The arrangements for access by Gibraltar and UK firms as set out in the revised Order will apply until 31 December 2020. In the interim, the UK and Gibraltar will be working together to agree a new long-term relationship for access to each other’s markets.
The GFSC has provided information and guidance on the following:
1. The GFSC’s role under the EU Withdrawal Act
a. Temporary Permissions Regime and Financial Services Contracts Provisions
b. Legal changes post-Brexit
2. Preparing your firm for Brexit
a. Gibraltar firms
b. European Economic Area (EEA) firms
c. Communication with consumers
3. Next steps
For more information please contact email@example.com
Please note that this webpage will be updated as and when more information becomes available.