§ Viscount Exmouthasked Her Majesty's Government:
Whether responsibility for the administration of financial services in Gibraltar lies with the Foreign and Commonwealth Office or with the Treasury. [HL3774]
§ Baroness Symons of Vernham DeanOverall responsibility for the Overseas Territories, including Gibraltar, lies with the Foreign and Commonwealth Office. Responsibility for Her Majesty's Government's policy on financial services issues, however, lies with HM Treasury. Both departments therefore work closely together on issues concerning financial services in Gibraltar. The Gibraltar Financial Services Commission is responsible for the prudential supervision of the financial services sector in Gibraltar.