The Gibraltar Financial Services Commission (GFSC) has welcomed the appointment of the members of the new decision making committee (DMC).
Minister for digital and financial services, Albert Isola, made the appointments to the newly established DMC under the Financial Services Act 2019 that came into force on 15 January 2020.
The DMC consists of six members, three lawyers and three individuals with significant financial services expertise. The Minister has made the following appointments; Peter Caruana (chair); Neil Costa; Nigel Feetham; Joseph Caruana; Edgar Lavarello; and Emma Perez.
Isola said: “I am delighted to announce the appointment of such preeminent individuals who have agreed to serve on the newly formed DMC. These individuals have significant experience of practising law and financial services in the jurisdiction and will no doubt make major contributions as members of the committee.”
He continues: “The DMC is a key component of the new financial services act and I am sure its members will provide high-quality regulatory decision making. The DMC is an important commitment by Gibraltar to international standard regulation separating the roles of investigation and prosecution from the final decision making strengthening the regulatory regime for financial services.”
Chief executive Kerry Blight added: “The GFSC welcomes the individuals and I congratulate them on their appointment to the independent DMC. The DMC will strengthen our overall decision-making in our regulatory regime and also aligns us with our UK peers.”
