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Strengthening future delivery – FSC publishes its Strategic Plan

Date: 14th October 2014

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The Gibraltar Financial Services Commission (“FSC”) has today published its 2014-2017 Strategic Plan. This was recently approved by the Board of the FSC and sets out the FSC’s approach to the delivery of its vision. The plan includes the FSC’s strategic objectives and priorities for the next 3 years alongside a high-level delivery plan and business change programme for the period 2014-2017. The plan has today been launched at a meeting of the Finance Centre Council.

FSC Chairman, John Tattersall said “The context for the plan is a fast developing and moving environment, where international and European standard setting bodies, the financial services industry and other stakeholders, are setting future challenges the FSC needs to be well positioned to meet. The plan the FSC Board has approved will ensure that the FSC remains ahead of the curve in its delivery of effective and efficient regulation against the backdrop set by these challenges.”

FSC CEO, Samantha Barrass said “Underpinning our 3-year programme is a focus on strengthening our operational delivery of effective regulation against a background of multiple challenges. In particular, we will enhance our ability to mitigate unacceptable risks and improve the way we do business with reputable firms. A priority will be a focus on firms’ authorisation experience. The plan includes a reorganisation of the FSC which will support efficient and effective operational delivery of our remit. This includes further strengthening at the senior staff level and further investment in recruiting strong industry experience.”

Gibraltar based FSC Commission member, Bruno Callaghan said “This plan is good news for firms choosing to locate in Gibraltar. The FSC is focused on a significant gearing up in order for firms’ regulatory experience to be as straightforward as possible whilst delivering international standards of oversight to ensure Gibraltar remains a jurisdiction of choice for new firms.”

A copy of the Strategic Plan can be found on the FSC website www.fsc.gi. The FSC’s new structure will be published shortly.

Notes for Editors

  1. The FSC will run a series of “Roadshows” with industry associations to communicate and engage with firms, providing an opportunity to ask questions and find out more about all elements of the FSC’s Strategic Plan.
  2. The FSC is the regulator of the Gibraltar financial services market, regulating providers of financial services conducted in both Gibraltar and other jurisdictions. The FSC’s vision is to be recognised by our stakeholders as the model international financial services regulator and its mission is to provide financial services regulation in an effective and efficient manner in order to promote good business, protect the public from financial loss and enhance Gibraltar’s reputation as a quality financial centre. The regulatory objectives underpin the vision and mission statement. Namely, these are the promotion of market confidence; the reduction of systemic risk; the promotion of public awareness; the protection of the good reputation of Gibraltar; the protection of consumers and the reduction of financial crime.
  3. Contact details as follows: Bethan Perera, Manager, Strategy and Communications. [email protected] Financial Services Commission, PO Box 940, Suite 3, Atlantic Suites, Europort Avenue, Gibraltar. Tel: +350 200 40283, Fax: +350 200 40282.