Business

A Royal Return

In a move that’s taken both aviation experts and members of the public by surprise, Monarch Airlines has announced that it is rebooting

The popular carrier ran into financial difficulty in 2017, leaving many passengers and holidaymakers stranded across Europe.

A firm favourite in Gibraltar, the airline served the Rock for many years, even gracing the side of the Rotunda building facing runway with a large advertisement.

Monarch was established in Luton in 1968 and latterly became a mainstay for travellers going to and from the Rock.

A spokesperson for the company said, “On the 18th of August we completed the critical first step in our mission to relaunch a much-loved name in UK travel when Monarch Airlines and Monarch Holidays were passed into new ownership.

“We’re now building a brand new Monarch and can’t wait to share more with the travelling public in the very near future.”

Keep an eye on letsmonarch.co.uk to find out more.

UK Reaffirms Commitment

The Chief Minister Fabian Picardo and the Deputy Chief Minister Dr Joseph Garcia met with UK Minister for the Armed Forces James Heappey MP.

The importance of Gibraltar to the UK military was reaffirmed during the meeting and the Chief Minister stressed the commitment of the Government and the people of Gibraltar to the armed forces. In total, the MOD is investing approximately £50m in capital expenditure on the Rock.

Other things that were discussed included the recent disruption at Gibraltar Airport. Also, Treaty negotiations with the EU were raised and the Minister was briefed on the plans for a No Negotiated Outcome.

The Chief Minister, the Hon Fabian Picardo KC, said, “James Heappey is a good friend of Gibraltar who will always be welcome here. The visit reflects the positive state of relations between the Gibraltar and UK Governments, and with the Ministry of Defence in particular.”

GFSC APPLICATIONS

Both HMGoG and GFSC have been considering a new approach to licence applications by firms to operate in Gibraltar.

The aim has been to streamline the process into clear stages and front-load areas of importance. As a result of this work, a new methodology for these applications has been devised.

A consultation has been launched to garner opinions on this sector-specific approach which consists of a three or four-staged process.

Highlighting on the work of the authorisations review, GFSC CEO, Kerry Blight said, “Our obligation in providing speed to market alongside the highest international standards remains a priority and has been at the forefront of this work.”

The Minister for Financial Services Albert Isola MP added, “I am absolutely delighted with this work and commend Kerry and his team for this excellent and detailed review which will mark a significant change in our approach to firms applying to the GFSC. Speed to market is critical to our Jurisdiction, especially so when we are working to maintain the highest international standards and committing to faster response times. This is exactly what the industry needs at this moment in time.”

The deadline for the consultation is the 30th September 2023. The GFSC has committed to consider all responses and publish its conclusions shortly after.

QUAD ISLAND FORUM

The Financial Intelligence Units (FIUs) from Gibraltar, Guernsey, Isle of Man and Jersey under the Quad Island Forum recently met in London at Gibraltar House. It forms part of the participants’ ongoing commitment to further develop the Quad Island Forum and extend to other authorities with responsibilities for financial crime.

The three day meetings included the participation of the Economic Crime and Confiscation Unit from Jersey and the Isle of Man Proactive International Money Laundering Investigation Team to focus on exchanging best practices in preparation for upcoming Moneyval assessments.

An additional initiative has been undertaken, encompassing a distinct subgroup that integrates the Tax authorities from the four jurisdictions. The aim is to enhance collaboration between tax authorities and FIUs in order to combat serious tax-related crimes and sophisticated tax fraud schemes that yield substantial illicit gains.

During the meeting, participants deliberated on strategic objectives, fostering effective cooperation, exploring training opportunities, sharing best practices for accessing tax data, addressing legal challenges, resources and information technology.

Deloitte Developments

The three day meetings included the participation of the Economic Crime and Confiscation Unit from Jersey and the Isle of Man Proactive International Money Laundering Investigation Team to focus on exchanging best practices in preparation for upcoming Moneyval assessments.

An additional initiative has been undertaken, encompassing a distinct subgroup that integrates the Tax authorities from the four jurisdictions. The aim is to enhance collaboration between tax authorities and FIUs in order to combat serious tax-related crimes and sophisticated tax fraud schemes that yield substantial illicit gains.

During the meeting, participants deliberated on strategic objectives, fostering effective cooperation, exploring training opportunities, sharing best practices for accessing tax data, addressing legal challenges, resources and information technology.

MWG2023 – Maritime week Gibraltar

Minster for the Port, the Hon Vijay Daryanani MP, recently opened Maritime Week Gibraltar at the Sunborn Hotel.

This is the third conference after its launch in June 2019 and will see people attending from Singapore, Maldives, Malta and other maritime jurisdictions.

The Minister spoke of Gibraltar’s strategic location, the importance of the maritime industry and our maritime heritage.

Minister Daryanani commented, “Gibraltar is a bustling maritime hub and after the Pandemic it is crucial that we promote our Port and all the services related to the maritime sector. Maritime Week serves as the perfect platform for us to recognize the invaluable contributions made by the maritime industry to our local economy and the global trade network.”

Fiesta de Fitness

A new one and a half day fitness event is coming to Europa Sports Complex Gibraltar later this year – on Saturday 16th and Sunday 17th September.

It’s the first event of its kind in Gibraltar with twelve international presenters who have worked with the likes of Beyoncé, Britney Spears, Premier League football clubs, and Davina McCall, collaborating with local Gibraltar professionals.

Profits from the event will be donated to Gibraltar Alzheimers and Dementia Society.

The organisers are expecting circa 300 local and international attendees. It’s modelled on the annual International Fitness Showcase held in Blackpool which attracts  around 6000 people. It’s hoped that the September event will replicate this and benefit Gibraltar’s local businesses community. 

Tickets are available from buytickets.gi or fiestadefitness.co.uk

Environment Ministers’ Council

Minister for Environment and Climate Change Prof John Cortes chaired a virtual meeting of the Council of Environment Ministers from the UK Overseas Territories (OTs) and Crown Dependencies (CDs). The Council was set up at a meeting in Gibraltar’s Garrison Library in 2015, and has met at least annually since.

The meeting was attended by Environment Ministers, or equivalents, and senior officials from all the territories in question, as well as their London representatives, and the UK Overseas Territories’ Association (UKOTA), with the secretariat provided by the UK Overseas Territories’ Conservation Forum (UKOTCF).

The Rt Hon Lord Benyon, UK DEFRA Minister of State (Minister for Biosecurity, Marine and Rural Affairs) attended the meeting and participated in the discussions. These covered a wide range of topics, including representation in Conferences of the Parties of environmental conventions and agreements, biodiversity, funding for environmental projects, and management of protected areas.

All present considered the meeting to be useful and successful and agreed to increase the frequency to at least every six months.

Minister Cortes commented, “All the OTs and CDs are very different from each other in many ways, but also share many common challenges, problems and opportunities. These meetings of the Council have proved extremely useful in pushing the environmental agenda both in our small jurisdictions and also in the UK.”

Kindred CEO RESIGNS

Gibraltar employer Kindred Group plc has announced that its Board of Directors received the resignation of CEO Henrik Tjärnström, effective immediately. The Board of Directors has appointed Nils Andén as interim CEO, also effective immediately.

“I look very much forward to working closely with our Board of Directors, the executive management team and all employees to achieve the goals of Kindred”, said Nils Andén. “I re-joined Kindred in 2020 as its Chief Commercial officer, after having had positions within Kindred between 2006 and 2016 as Head of Poker, Head of Established Markets and Chief Marketing Officer for the Unibet brand. I have a strong belief in our organisation and the business models that have made this Company so successful and am more confident than ever in Kindred’s potential.”

“I am very pleased with the Board of Directors’ choice of Nils Andén as the interim CEO, guaranteeing a smooth hand over”, says Henrik Tjärnström.

“Henrik has been at the helm through many important milestones passed by Kindred and has undoubtedly put his mark in both the history of the Company and the industry. Thus, on behalf of the Board of Directors and all shareholders I would like to thank Henrik for his valuable contributions to the success of Kindred throughout the years he has led the Company and wish him well in his future endeavours”, said Evert Carlsson, Chairman of the Board of Directors of Kindred.

The company operates 32Red and Unibet amongst others.

The BIBA conference 2023

Gibraltar Finance attended and exhibiting at the British Insurance Brokers’ Association (BIBA) annual conference and exhibition at Manchester Central in the United Kingdom.

The BIBA conference is one of Europe’s largest insurance gatherings and in 2022 there were 8,066 attendees and 222 exhibitors including 5,169 brokers.

Michael Ashton, Senior Executive, represented Gibraltar Finance and he was joined on the stand by five insurance professionals from Gibraltar.

The Hon Albert Isola MP, Gibraltar’s Minister for Digital and Financial Services stated, “The insurance industry is a significant and core part of Gibraltar’s financial services sector. It 2022 the total gross premium income collectively written by all Gibraltar’s insurance companies reached circa £7 billion for the first time and Gibraltar’s motor insurers’ share of the UK motor insurance market exceeded 30% again for the first time.

BIBA offers the opportunity to showcase Gibraltar’s vibrant insurance sector, which has also seen significant growth in pet insurance and the intermediation of travel insurance in recent years, to a wide audience and to emphasise Gibraltar’s unique passporting rights into the United Kingdom.

A special thank you to all five insurance professionals who travelled to Manchester to support the Gibraltar Finance stand at BIBA 2023.”

NEW MID-HARBOUR AGREEMENT

His Majesty’s Government of Gibraltar recently granted a Licence Agreement to Mid-Harbour Small Boat’s Marina Association for an area of land at 6 Coaling Island Road for the purpose of a boat repairing and service yard.

This will provide the Association’s berth holders with an area where they can haul out their boats and carry out maintenance and repairs.

The Licence Agreement was signed at No6 Convent Place by Managing Director of Land Property Services, Kevin De Los Santos on behalf of HMGoG and John Collins as President of the Mid-Harbour Small Boats’s Marina Association.

On Thursday 20th April Trusted Novus Bank (TNB) hosted their first ever homeowner’s exhibition at Grand Battery House, featuring a range of suppliers of products and services.

TNB’s first Expo consisted of local businesses who have a connection to property in some way and around twenty-five local businesses, from lawyers and home insurance to refurbishing and furniture, exhibited at the Expo which was attended by hundreds of keen visitors, not just those awaiting property completions but all homeowners. There was something for everyone on their journey to a new home and there was a chance to discuss all things surrounding mortgages as well. 

The Expo saw exhibitors put on some fantastic displays of their products, demonstrating how they can assist in setting-up your first home, and the large number of keen visitors helped make the event a huge success – Grand Battery House was really buzzing with excitement. Exhibitors not only offered guidance and advice, but some also had special offers and discounts.

Following the interest and enthusiasm this year, TNB will be looking into hosting another Homeowners Expo sometime in the future. 

Data Protection OfficeR Appointed

Recently announced changes in the public sector throughout Government Departments, Agencies and Authorities in relation to data protection, including the roll out of an online training program for Government Departments.

Following a restructure, Mr Michael Crome has taken on the position of Data Protection Officer from Mr Tito Garro who has undertaken these duties for over 4 years. Mr Garro has been instrumental in building the foundations for Data Protection in the public sector and will continue to deliver his legal expertise through the Gibraltar Law Offices’ advisory team.

Mr Crome, who has recently been accredited as Data Protection Officer is now embarking on phase two of Governments Data Protection strategy with the introduction of a Public Sector Policy and new mandatory training for all Public Servants. Over 100 public servants have already undertaken this training since the start of the year and a systematic programme for continued training throughout the public sector has been established and over 1000 members of staff are already subscribed to undertake phase one of the training.

Phase two will introduce a compliance program to ensure that the personal data we stored and processed is done so safely and legally.

The Hon Samantha Sacramento MP, said “GDPR has become a foundation of our digital policy on which we are building other initiatives across the Public Sector. The processing of personal data should be designed to serve society and respect individuals’ rights. Initiatives such as the Government Data Protection Policy for the Public Sector which we have just launched and the e-learning training package contribute to setting up a framework for data access and using that is more clear and fair, giving individuals more control over their data and making more data available for use, including for the public good. I welcome Mr Crome to this role and thank Mr Garro for his sterling work in setting this up four years ago.”

Port Facility Training

A number of staff from the Gibraltar Port Authority recently completed a training programme for Port Facility Security Officer (PFSO) to meet their mandatory training commitments.

The opportunity was also taken by other Authority staff to undertake the training as part of their personal and professional development programme. The three-day course was delivered by Scott Breckenridge, Associate Lecturer in Strategic Studies and Projects Officer for the Centre for Seapower and Strategy at the University of Plymouth with the course being designed for any security officer with overall responsibility for port security under the UK’s Department for Transport guidelines.

The training programme consisted of several workshops, a presentation from each participant followed by an exam and focused on the responsibilities of the PFSO in accordance with the International Ship and Port Facility Security Code, port facility security plans, coordination of search plans and security operations, development, maintenance and review of port facility access controls and the conduct of port security assessments and threat analyses.

John Ghio, CEO and Captain of the Port wished to thank Mr Breckenridge for delivering this important training programme to GPA staff.

Minister for the Port, the Hon Vijay Daryanani said, “The continuous training and personal development among GPA personnel demonstrates both the Government’s and GPA’s strong commitment to having a first class professional team in place”.

MINISTER DARYANANI – Meets with 25 Cruise Lines

The Minister for Business and Tourism, the Hon Vijay Daryanani MP, recently completed a major cruise marketing drive at Seatrade Global in Fort Lauderdale. He was accompanied by Kevin Bossino, CEO of Gibraltar Tourist Board, and John Ghio, Captain of the Port.

Seatrade Global is the largest annual cruise gathering in the world. Over 13,000 professionals came together to innovate, uncover new trends and secure partnerships.

It gave the Gibraltar team an opportunity to reconnect with this important sector, put forward our case for increased cruise calls and set out our ambitions within the industry.

Minister Daryanani commented, “This was an intense few days of marketing and networking in what is a seriously challenging industry. There seems to be new competition every day. We want to attract more calls. It is as simple as that, but we know we have to work hard all the time, non-stop, for this to happen in what is a dynamic and ongoing situation.

I am not prepared to settle for what we currently have and that is why I will continue to take every possible opportunity to put Gibraltar’s case forward. I met with twenty-five cruise companies at this conference in a gruelling schedule of meetings. That is why Gibraltar’s presence at these events is necessary and the Government’s commitment to the cruising sector is unquestionable.”

GIBRALTAR ISSUES DISCUSSED IN WESTMINSTER

The Chief Minister Fabian Picardo and the Deputy Chief Minister Dr Joseph Garcia met with a number of Westminster politicians invested in the success of Gibraltar’s Brexit negotiations. This included the Foreign Secretary James Cleverly. They were accompanied by the Attorney General Michael Llamas.

The Chief Minister added that the Foreign Secretary, “is a long-standing friend of Gibraltar and we can rest assured of his support as the negotiations enter their final stretch.”

CITIZENS ADVICE BUREAU

The Minister for Justice, Equality and Public Standards, the Hon. Samantha Sacramento has met with the Board of Trustees of the Citizens Advice Bureau following the appointment of new Chair Ivan Navas. Mr Navas succeeds outgoing Chair Marie Lou Guerrero.

Additionally, new trustees Tania Rahmany, Gino Deharo and Jane Webber have also been appointed to join the other longstanding members of the Board.

The Minister took this opportunity to meet the Board as an introductory meeting and thank them for their work.

Minister Sacramento said, “I would like to publicly express my gratitude to Marie Lou Guerrero, the outgoing Chair, for her work and to Mr Ivan Navas and all incoming and long standing members of the Board of Trustees for their work, which is undertaken on a voluntary basis, to assist the Citizens Advice Bureau to ensure that the valuable work they do to improve the lives of people in Gibraltar continues.”

NEW COMMEMORATIVE COINS

The Gibraltar Morocco Business Association recently organised ceremonial activities to officially launch a brand-new coin range. This was issued by the Gibraltar Mint to commemorate the long lasting relationship between the Kingdom of Morocco and the British Overseas Territory of Gibraltar.

The Gibraltar Morocco Business Association recently organised ceremonial activities to officially launch a brand-new coin range. This was issued by the Gibraltar Mint to commemorate the long lasting relationship between the Kingdom of Morocco and the British Overseas Territory of Gibraltar.

The coins depict Commander Tariq Ibn Ziyad in front of the Rock of Gibraltar, and on the second coin the Mons Calpe Ferry and GB Airways, two methods of transports which proved to be Gibraltar’s life line during the days of the Gibraltar-Spain frontier closure. The effigy of Her Late Majesty Queen Elizabeth II is depicted on the obverse.

This not only included the coins, but also a visit by the Gibraltar Sea Scouts Group and Pipe Band to Tangiers. This was in part a throwback to remind Moroccans of the 1980s when the same band was a familiar sight.

New tax professionals’ organisation launched in Gibraltar

A new tax professionals’ organisation, the Gibraltar Association of Tax Advisers (GATA), was formally launched on Friday 17 February after holding an inaugural meeting at the offices of Hassans attended by the founding Chartered Tax Advisers based on the Rock.

The objective of the group is to promote the profession of tax adviser whether by publicly highlighting issues relevant to tax, by promoting tax education amongst the relevant professions and the public in general and encouraging and facilitating those who work in tax relevant professions or who have an interest in tax to undertake study for qualifications relevant to the profession of tax adviser within Gibraltar.

Grahame Jackson, newly appointed Chair of GATA, commented: 

“The profession of tax adviser is distinct from the professions of accountant or lawyer, and whilst there is much overlap between the three professions, the founding members believe that it would be beneficial to Gibraltar and the profession of tax adviser in Gibraltar for there to be a professional organisation which represents and promotes the profession of tax adviser.

This is particularly important at time when the profession of “tax adviser” grows in its international profile and the global taxation system becomes ever more complex. We are looking forward to working with all relevant well-established organisations, towards common goals involving taxation.”

Membership of GATA is open to anyone who holds either the Chartered Tax Adviser qualification or the Advanced Diploma in International Taxation or who are Fellows of the Chartered Institute of Taxation or any equivalent qualification issued by a national institute of taxation representing the profession of tax adviser in the relevant jurisdiction. 

In the first year of operation there will be no fee to join, an open invitation stands to all those who meet the entry requirements and who are interested in joining. Interested professionals are requested to email gibraltarata@gmail.com for more information.

Private Upper Town properties

The Minister for Housing, The Hon Steven Linares MP, together with the Principal Housing Officer, Geraldine Reading, met with Action for Housing’s Mr Henry Pinna, Ms Zohra El Gharbaoui Ariba and Mr John Calderon to view properties in the Upper Town and back streets. They also took the opportunity to meet with some of the tenants of these privately rented flats and see first-hand how their lives are being affected by their living conditions.

Minister Linares maintains that the construction and sales of affordable housing, together with the construction of rental flats specifically designed for the elderly, is the way forward. This maximises the return of existing Governmental Rental flats to the housing department’s stock for subsequent allocation alleviating both the housing waiting list and its waiting time.

Minister Linares took this opportunity to encourage members of the public to anonymously report seemingly vacant Government flats to the Housing Department’s hotline on 200 40040 or via email to housing@gibraltar.gov.gi so that these can be investigated.

GREYLIST Delisting

On 17th June 2022, the Financial Action Task Force (FATF), surprisingly identified Gibraltar as a jurisdiction under increased monitoring in respect of two financial points.

The FATF Action Plan that resulted urged Gibraltar to complete improvements and compliance by May 2023.

In December 2022, ahead of the May 2023 deadline, Gibraltar voluntarily sent an update report so that it could be considered by the review team and the progress made be taken into account.

HM Government of Gibraltar has reported that the FATF has agreed that:

1.
Supervisors in Gibraltar are now using a range of effective, proportionate, and dissuasive sanctions for AML/CFT breaches.

2.
Gibraltar should continue to show that it is able to pursue more final confiscation judgments commensurate with the risk and context of Gibraltar.

In other words, this means that the original two point Action Plan has now been reduced to one, regarding the pursuit of more final confiscations.

The Gibraltar authorities will next report on further progress this coming May 2023, which is in accordance with the timeframe set by the FATF.

HM Government of Gibraltar has reiterated that it continues to work closely with the FATF.

TREATY TALKS CONTINUE

The Chief Minister Fabian Picardo and the Deputy Chief Minister Dr Joseph Garcia were recently in Madrid for a continuation of the discussions on Gibraltar’s future relationship with the European Union – and through them with the Rock’s nearest EU neighbour, Spain.

They were accompanied by the Attorney General Michael Llamas.

These discussions have been ongoing between different parties and at different levels.

The Attorney General intends to proceed from Madrid to London to participate in the next formal round between the United Kingdom and the European Union. The Chief Minister and Deputy Chief Minister will again attend the meeting virtually.

The His Majesty’s Government of Gibraltar says it remains fully committed to arrive at a positive, safe and secure treaty for Gibraltar and is very optimistic that such a treaty will be agreed.

Gibraltar Broadcasting Corporation Hiring push

As part of the proposed evolution of GBC under new CEO, James Neish, some new vacancies have become live at the organisation.

Among these include a staff broadcast assistant (BA), plus some freelance positions including camera operator, presenter/announcer and a further BA role.

If you’re interested in shaping the future of GBC and want to get involved, go to
https://www.gbc.gi/vacancies

Brexit Update

Negotiations over the Gibraltar portion of Brexit continue very positively according to the Government of Gibraltar. HMGoG has stressed that it remains committed to work seamlessly alongside the Government of the United Kingdom, towards being able to agree texts with the European Union as soon as possible but only if the principles, substance and texts are safe and secure for Gibraltar.

HMGoG has also reiterated that the negotiations are both technically and politically complicated. Despite that, Gibraltar continues to work intensively with the United Kingdom to make as much progress as possible.

At the same time, contingencies have been made to continue to plan for a No Negotiated Outcome in the event that it were not possible to reach agreement.

The Chief Minister of Gibraltar, the Hon Fabian Picardo KC MP, said, “It’s clear to me that all parties are putting a lot of hard work and good faith into trying to finalise this important UK/EU Treaty as soon as possible in a manner that is agreeable by all relevant parties.

Great resources are being deployed to try to reach an agreement. We are all optimistic and positive in our outlook. That there are elements in respect of which we may be largely in agreement at this stage of these long and arduous negotiations is certainly true. We look forward to crossing t’s and dotting i’s on the text relating to all aspects of Gibraltar’s future relationship with the EU at the right moment and, for the sake and interests of citizens on both sides of the border, we look forward to this process happening sooner rather than later. But we are not there yet.”

Local Content  as Trusted NOVUS BANK Launches Community Business Series online

Trusted Novus Bank has launched a Community Business Series on YouTube. They will be creating original local content, focusing on financial matters which are important within the Gibraltar community. The first topic, deals with Fixed Rate Mortgages, given the fast moving interest rate environment where many people are considering moving on to a fixed rate mortgage.

Just search on YouTube to find out more.

Gomez Does The Double

Nicholas Gomez of Charles Gomez & Co has secured a second term as Round Table International’s Regional Chairman of the Southern Europe and Mediterranean Region.

Mr Gomez was the first Gibraltarian in history to secure this position. 

The region includes over 5,000 members in thirteen territories: France, Italy, Switzerland, Portugal, Morocco, Tunisia, Malta, Cyprus, Bulgaria, Israel, Monaco, San Marino and, naturally, Gibraltar.

In addition, Mr Gomez finds the time to draft anti money laundering procedures for the whole of the Round Table International organisation.

Well done Nicholas!

2022

Gibraltar Day made a return to London after the disruption of the COVID-19 Pandemic. It formed a series of events, designed to promote The Rock across various financial services sectors.

The Chief Minister, the Hon Fabian Picardo KC MP, said, “This is the first Gibraltar Day in London since the pandemic began and I am absolutely delighted to have hosted the Financial Services lunch … which brought together all those industry leaders who are so fundamentally important to Gibraltar’s economy. It was also particularly poignant to mark Gibraltar Day in London this year for the first time since the passing of Her Late Majesty Queen Elizabeth II.

“I would like to thank the Sir Phillip Barton for attending the lunch and addressing those present and for reenforcing the United Kingdom’s commitment to Gibraltar and to securing a safe and beneficial deal in the UK/EU negotiations on Gibraltar’s future relationship with the EU. Sir Phillip is a great friend of Gibraltar and a former Deputy Governor and so it was a real pleasure to have him with us for today’s lunch.”

Youth Rugby festival

Gibraltar Rugby has inked a new long term partnership with Trusted Novus Bank in support of Gibraltar Rugby’s Youth Rugby Development Festivals.

Chad Thomson, Gibraltar Rugby CEO said, “The project has been a strategic priority for the Union & is one of our key pillars to the 2021-2024 strategic plan. The focus is very much on small sided games, under tag rugby rules for our juniors, introducing them to the FUNdementals of Rugby”. 

The key takeaway from these festivals is child development within a fun and engaging environment. The partnership stems from our shared core values with the bank, for Gibraltar Rugby these revolve around Respect, Inclusion, Discipline and Enjoyment.

Christian Bjørløw, CEO Trusted Novus Bank added, “We are very pleased that we can support Gibraltar Rugby, whose values are as strong as ours.

“Together we can hopefully inspire the next generation of young rugby players in Gibraltar.”

The DLT Seminar

Minister Albert Isola MP hosted The DLT Seminar at the start of November in Canary Wharf.

The DLT Seminar, one of Gibraltar Finance’s annual events in London, was attended by over 160 industry, regulatory and governmental representatives.

Minister Isola opened the event, extended a warm welcome to guests and provided an update on Gibraltar’s ongoing development. He highlighted that the venue was the birthplace of Gibraltar’s DLT journey some 6 years ago with our first ever event being hosted in that same fintech facility.

William Gracia, Head of DLT at the Gibraltar Financial Services Commission then provided a regulatory update.

Two panel sessions followed, the first covering the Government’s initiative in piloting a process in which it will integrate blockchain technology into its legacy systems to streamline government services. This was moderated by Anthony Provasoli, co-chair of the Gibraltar Association of New Technologies (GANT) and panellists included Christopher Woolnough, IOV Labs, Alfonso Monroy, Bitso and Pablo Mosquera, Extrimian.

The second panel discussed the importance of the 10th Regulatory Principle to the DLT Regulatory Framework, establishing standards of market integrity in the digital asset space. Contributing to the discussion, led by GANT co-chair Joey Garcia, were leading industry experts Lee Schneider – Ava Labs and Joshua Ashley Klayman – Linklaters LLP who had both travelled from the US to join the event and industry participants Jonathan Parnell – Eqonex, Jenna Wright – LMAX Digital and Vitalli Kedya – Currency.com.

Minister Isola stated, “The DLT sector in Gibraltar continues to go from strength to strength as we continue to develop our regulatory framework and support those firms that make Gibraltar their regulatory home. Our stated aim is to ensure that quality firms who wish to develop a long-term sustainable relationship with us continue to enjoy our full support. I am delighted to be in London to highlight the benefits we offer firms seeking the regulatory certainty we offer.”