HM Government of Gibraltar welcomes the decision adopted earlier today by the European Commission to propose the removal of Gibraltar from the EU’s so-called list of high-risk third countries with strategic deficiencies in their anti-money laundering and counter-terrorist financing regimes.

The Commission’s decision confirms its technical assessment that Gibraltar satisfies all the criteria for removal from the list. The measure is contained in a Delegated Act which will now proceed to the European Parliament for review and approval before it can enter into legal effect.

Minister for Justice, Trade and Industry, the Hon Nigel Feetham KC MP, commented: “The Commission’s proposal reflects Gibraltar’s clear technical compliance and our unwavering determination to uphold the integrity of our financial system. It is a just recognition for the continued work Gibraltar has been doing, not only to meet but to exceed international expectations.”