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Bossino fails to understand UK Listing process, again – 577/2022

By August 18, 2022 No Comments

The latest statements by Mr Bossino attempt to hide the simple fact that he did not understand the legal process as to how decisions of the FATF are dealt with in the United Kingdom, and expects Government to explain these to him. That is his job and what Opposition members are paid to do – their homework.

On the 10th August 2022, Mr Bossino said;

“…there should be an explanation as to why three weeks after that statement the UK has amended its regulations to put Gibraltar on the high risk list…”

“When did the Government become aware of that decision and what representations has it made before the publication of the new UK legislation or after it?”

Mr Bossino should have known that there is no need for an explanation as to why the United Kingdom followed their own laws and more importantly that there was never a “decision” taken to do this. It was automatic by due process of law.

This is the third statement Government has issued explaining the point to Mr Bossino. We would hope by now that he understands this as he is after all a lawyer.

Minister Isola responded by saying “Mr Bossino has really put his foot in it here but I don’t understand why he cannot just accept he made a simple mistake and we can all move on. The process adopted by the UK is well known and long established. Gibraltar has been treated in exactly the same way as any and every other country as UK laws require. In order to assist Gibraltar, HM Treasury has engaged with Regulators and Banks on our behalf to ensure the steps taken were indeed proportionate to our Action Plan and for this continuing support we are extremely grateful.”