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Government Publishes Technical Notice on Financial Services – 748/2020

By October 27, 2020 No Comments

The Government has today published a Technical Notice for guidance on Financial Services in preparation for the end of the transition period on 31 December 2020.

This latest Notice reviews the position if there is no agreement with respect to the future relationship of Gibraltar with the European Union. It covers the arrangements between Gibraltar and the United Kingdom, UK legislation and further ongoing work. It also covers the position between Gibraltar and the EU, including the Temporary Permissions Regime and the split of responsibilities.

It is important to note that whether there is an agreement on the future or not, the arrangements between the UK and Gibraltar with respect to market access in financial services are impervious to any future relationship with the EU. This was an important priority for the Government which was secured early on in the negotiations with the UK Government which followed the 2016 referendum.