Gibraltar: Assessment of Financial Sector Supervision and Regulation including Reports on the Observance of Standards and Codes on the following topics: Banking Supervision, Insurance Supervision, and Anti-Money Laundering and Combating the Financing of Terrorism

IMF Staff Country Reports, May 21, 2007

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Gibraltar: Assessment of Financial Sector Supervision and Regulation including Reports on the Observance of Standards and Codes on the following topics: Banking Supervision, Insurance Supervision, and Anti-Money Laundering and Combating the Financing of Terrorism

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Bibliographic details

• Published: May 21, 2007
• Series: IMF Staff Country Reports
• DOI: https://doi.org/10.5089/9781451815054.002

Summary and principal findings

• This paper presents Gibraltar’s assessment of Financial Sector Supervision and Regulation including reports on the Observance of Standards and Codes on banking and insurance supervision.
• The Financial Services Commission has been assigned significant additional resources and has developed a well-structured approach to the management of its resources that includes a risk-based approach to supervision.
• The assessment found a high standard of compliance with the Basel Core Principles for banking supervision.

Institutional capacity and supervisory approach

• The Financial Services Commission: assigned significant additional resources.
• Resource management: developed a well-structured approach to the management of its resources.
• Supervisory methodology: includes a risk-based approach to supervision.

Standards and observance

• Banking supervision: high standard of compliance with the Basel Core Principles.
• Insurance supervision: assessed as part of the reports on the Observance of Standards and Codes (insurance supervision discussed in the overall assessment).
• Anti-money laundering and combating the financing of terrorism (AML/CFT): included among the topics covered in the assessment.

Subjects and keywords (as listed)

• Subjects: Anti-money laundering and combating the financing of terrorism (AML/CFT), Banking, Crime, Financial institutions, Financial services, Insurance, Insurance companies, Money laundering
• Keywords: aid rule, Anti-money laundering and combating the financing of terrorism (AML/CFT), authorities response, CFT regime, CR, Global, implementation authorities, Insurance, Insurance companies, ISCR, management firm, Money laundering, U.K. government

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• _cr07154 - Executive Summary
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  • _cr07154 - Executive Summary (PDF)