On Monday, the GSD dismissed a response to the Gibraltar government’s “arrogant, patronizing and personal” concerns it raised over the UK’s decision to list Gibraltar as a “high-risk” jurisdiction.
The Gibraltar government has previously said the UK’s decision would “automatically” address any country on the gray list of the Financial Action Task Force, the global money laundering and terrorist financing watchdog. He said it was.
Gibraltar was placed on the FATF’s “grey list” in June, urging Locke’s authorities to demonstrate that international agencies have imposed sanctions and seizures “actively and successfully” following financial investigations. did.
The GSD expressed concern about the move and questioned why the government did not make it clear this would happen when the UK Treasury issued a statement to parliament during its budget speech claiming it continued to support Gibraltar. continued efforts to remove Gibraltar from the list. Year.
The government then accused the GSD of a “horrifying lack of knowledge” about the long-established process in the UK.
But on Monday, the GSD said the government had made it clear that any criticism was abhorrent.
“It is clear that they have power in their heads and will not tolerate requests for explanations or criticism,” the party said in a statement.
“The financial services industry is ‘on the verge’ not because of the GSD statement, but because it has been exacerbated by several statements in Congress in addition to the FATF’s graylisting that occurred under government oversight. phenomenon.”
“if, [Financial Services] Minister [Albert] Isola said the UK’s gray listing of Gibraltar, independent of the FATF, was inevitable following the FATF’s listing, and when he had the opportunity in his June budget speech, he took a clear and unequivocal position. should have been made explicit.
The GSD says that with “necessary clarity,” the financial services industry would have known what was to come.
Isola added that he was “not at all suggesting” that Gibraltar would be listed by the UK as a “high-risk third country”, and that it was “no wonder” that industry officials expressed surprise at the decision. added.
“The undeniable fact is that Mr Isola’s statements have proven to be inaccurate at best and clearly misleading at worst. What the UK will do on June 29. If only he had known we were different on that point,” GSD said.
“He told parliament that the FATF decision does not call for the application of enhanced due diligence measures and that the UK Treasury has been ‘extremely supportive’.”
“The meaning of these statements was clear.”
“They could only reassure the industry that the UK would be more sympathetic and not put Gibraltar on the high-risk enhanced due diligence list.”
The GSD said the situation “raised questions” as to why the UK felt compelled to add Gibraltar to its list of “frankly” unattractive countries.
“Now that Mr Isola has been arrested, either this is his account of his acrimonious attack, which in his view is the best form of defense, or he has deliberately created a misleading impression in parliament, and the British We knew full well that we were going to put Gibraltar on the ‘high risk’ list,” the GSD said.
GSD MP Damon Bossino added:
“That doesn’t mean we won’t make public comments when there is a marked discrepancy between the government’s statements in parliament and reality, as is the case here.”
“The GSD will continue to encourage and assist governments in any way they can to ensure that Gibraltar is removed from such lists because of our reputation as a financial services jurisdiction.”
“do not take me as a fool”
The Gibraltar government did not take long to respond to the GSD.
In a statement late Monday, No.6 Convent Place said the GSD’s comments were “surprising after its position was explained in two separate statements.”
“They simply do not understand the proper procedures to consider before making a public statement on this matter,” said No.6 Convent Place, a GBC interviewer also explained his position in an interview with Bossino. added.
No.6 said “as a matter of law and procedure”, the UK Treasury has fully complied with the FATF Greylist.
It said there was no discretion and that countries were added or removed from the UK list based on the FATF’s position, adding that it was “unbelievable” that Bossino “cannot understand this”.
Bossino said he was trying to imply “malice” or “malice” on the government’s stance, which “had never done anything like that”, to cover up his wrongdoing.
“I’m at a loss about the hole Mr. Bossino dug himself,” Mr. Isola said.
“The position is clear and as a lawyer he should not be told by me or anyone else what these outcomes will be.”
“The UK will add a country to the list of high-risk countries when it is listed or removed from the FATF. It is automatic.”
“Why didn’t Mr. Bosino know this and make the ridiculous suggestions he’s been making?”
