Gibraltar FSC Joins IOSCO

by Jason Gorringe, for LawAndTax-News.com, London

14 April 2005

It emerged last week following the 30th Annual Conference of the International Organisation of Securities Commissions (IOSCO) that the Gibraltar Financial Services Commission’s application to be accepted as an Ordinary Member of the Organisation has been approved.

IOSCO members regulate more than 90% of the world's securities markets, and IOSCO is seen as the world's most important international cooperative forum for securities regulatory agencies.

The FSC has attended a number of annual events as an observer jurisdiction and formally submitted its application to become a full member two years ago.

The approval of its application follows the recent Statutory Review of the FSC conducted under the Financial Services Commission Ordinance by Richard Pratt.

Commenting on the development last week, Commissioner Marcus Killick announced that:

“Coming soon after the recent statutory review, this is further evidence of international recognition of Gibraltar’s regulatory standards. I am delighted that the work of the team at the Commission has been acknowledged in this way.”

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