§ Sir Thomas ArnoldTo ask the Secretary of State for Foreign and Commonwealth Affairs what was his response to the recent remarks of the Chief Minister of Gibraltar about the development of financial services and the appropriate regulatory regime.
§ Mr. David DavisWe support the development of financial services in Gibraltar supervised to a standard consistent with EC obligations and legislation and supervisory practice within the United Kingdom.
We welcome the passage through the Gibraltar House of Assembly in May of amendments to the Financial Services Commission Ordinance which introduce a supervisory regime designed to achieve these ends.