Select Committee on Foreign Affairs Appendices to the Minutes of Evidence


Memorandum from Mr Martin Fuggle, Commissioner, Financial Services Commission, Gibraltar

  1.  Members of the Foreign Affairs Committee expressed interest in how the various international anti-terrorism measures had been brought into effect in Gibraltar. As explained orally at the time, in general terms Orders in Council were made in the UK under the United Nations Act. These had the effect of extending the UN Resolutions to all of the Overseas Territories and to the Crown Dependencies, and thereby to Gibraltar. They were promulgated locally under various Legal Notices.

  2.  In addition, the FSC through its own website (,[68] provided electronic links to the prime documents and to the UN and EU lists of names and, more generally, to various other sites containing names for which institutions should check. Every licensed entity was advised to undertake rigorous checks of their client and customer bases, to freeze accounts (where relevant), and to report any specific findings to the Gibraltar Financial Intelligence Unit ("GFIU"), the relevant body for these purposes in Gibraltar. There is a legal obligation to report to the GFIU.

  3.  The best and most detailed summary of the arrangements in Gibraltar in relation to combating the financing of terrorism can be found in a recent self-assessment that the relevant authorities in Gibraltar have put together in response to a Special Recommendation of the Financial Action Task Force (the "FATF"). Attached is a copy of that self-assessment.[69]

Martin Fuggle

1 July 2002

68   The link is on the home page, click on "anti-terrorism measures". Back

69   Not printed. A copy has been placed in the Library. Back

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