The Commission is a statutory body corporate established by the The Financial Services Act 2019. 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 functions of the Commission are to keep under review the operation of Gibraltar legislation and the effectiveness of supervision of financial services; to monitor 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 is charged with the responsibility of supervising institutions carrying on finance business in or from within Gibraltar. The CEO is required 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 its 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.
The current Commission consists of:
(Chief Executive Officer)
1 October 2019
30 September 2022
30 September 2025
|Kerry Blight has over 30 years of experience in the financial services industry having served most recently as CEO at Credit Suisse Gibraltar for over five years and Regional Director at Natwest/RBSI Gibraltar for seven years prior. He has also served as Chairman of the Gibraltar Finance Centre Council.
|Stephen Haddrill (Chairman)
1 August 2020
31 July 2023
| 31 July 2026
|Stephen Haddrill was the Chief Executive Officer of the UK Financial Reporting Council for ten years before retiring from the position in October 2019, bringing in measures such as strengthening of regulatory oversight of ther audit and actuarial professions. He also served as Director General of the Association of British Insurers for almost five years and was recently appointed Director General of the Finance and Leasing Association, the UK trade body for consumer credit and motor and asset finance providers.
|Paul Sharma MA FCA
15 February 2016
13 February 2022
|13 February 2025
|Paul Sharma is head of the EU Regulatory Advisory Services Practice and Managing Director at Alvarez & Marsal Financial Industry Advisory Services LLP based in the UK and at Alvarez and Marsal Benelux B.V based in the Netherlands. He was formerly Deputy Head of the UK’s Prudential Regulation Authority, and prior to that a director at the UK’s Financial Services Authority. He also formerly served as the UK’s alternate member on the Boards of Supervisors of the European Insurance and Occupational Pensions Authority and of the European Banking Authority. He also formerly served on the Basel Committee on Banking Supervision and the Executive Committee of the International Association of Insurance Supervisors. He is an accountant (ICAEW) and an actuary (Honorary FIFA).
14 August 2019
13 August 2022
|13 August 2025
|Richard Hill is currently Managing Director at Ibex having held the role for over 15 years. Prior to that Mr Hill served as a Financial Accountant at Victor Chandler International. He is a member of the Chartered Institute of Management Accountants and studied Economics with Human Geography at Loughborough University.
17 December 2019
16 December 2022
|16 December 2025
|Peter Caetano, a Gibraltarian who has spent the majority of his 35-year banking career aborad, returned home to Lombard Odier in March 2014.
5 October 2020
4 October 2023
|4 October 2026
|Paul Smee has had a diverse career in finance sector trade bodies, having served as Director General of the Association of Independent Financial Advisors, Chief Executive Officer of the UK Payments Council and more recently, Director General of the Mortgage Lenders up until its merger into UK Finance in 2017. He currently holds a number of non-executive director roles.
1 July 2023
|30 June 2026
|Emma Lejeune is a Partner at Isolas LLP which is a major law firm in Gibraltar. Mrs Lejeune has vast experience in the financial services sector including working on MiFID applications, private funds for family offices and investment firms, as well as being well versed with DLT, consistently ensuring regulatory compliance. She was also the first female Vice Chair of the Law Council in Gibraltar and sits on the Board of the Legal Services Regulatory Authority.
|Albert Mena CBE
|1 July 2023
|30 June 2026
|Albert Mena, who is deeply familiar with the work of the GFSC, is a Partner at Hassans International Law Firm Limited, Gibraltar’s largest law firm. Mr Mena is also a Chartered Accountant, having previously been a Partner for one of the ‘Big Four’. Mr. Mena served as HM Government of Gibraltar’s Financial Secretary from 2014-2022 and the Chairman of the Gibraltar Financial Services Resolution and Compensation Committee from 2018.