Gibraltar sets out sweeping new financial reforms for 2020

Gibraltar, the British Overseas Territory, has announced a major overhaul of its financial services regulation across all sectors as of next month. The sweeping reforms, known as the Legislative Reform Programme (LRP), will come into effect on 15 January 2020, following the unanimous passing of the BOT's Financial Services Act which was published in May this year. The Gibraltar Financial Services Commission (GFSC), the local regulatory body, described the LRP as providing: • A harmon...