GSD says Isola should have briefed Parliament on FATF plan

The GSD has chastised the Minister for Financial Services and Gaming, Albert Isola, over his “failure” to attend Parliament on Monday to either answer questions or make a statement on Gibraltar’s continued inclusion on the FATF grey list.

The FATF confirmed last week that Gibraltar would remain on the list for now, signalling progress but urging it to do more despite government optimism that Gibraltar would be removed.

Roy Clinton, the GSD Shadow Minster for Financial Services and Gaming, said: “The Minister for Financial Services Hon Albert Isola MP should have extended Parliament the courtesy of providing a statement as to the roadmap and urgent measures being adopted to have Gibraltar removed from the FATF Grey List.”

“Instead of which he did not attend Parliament this afternoon but had the time to issue a press release accusing the GSD of politicising the FATF Grey Listing.”

“The Minister knows that the GSD has been supportive in any way we could to ensure that Gibraltar is removed from the Grey List at the first opportunity.”

“To hold him accountable for the failure to meet the deadlines set by FATF is not to politicise anything but to exercise the right of Parliament to scrutinise his actions.”

“The Minister has had a whole year to address the FAFT action plan and has failed.”

“The next window is October 2023. He needs to provide more clarity to the financial services and other sectors of our economy as to how he anticipates achieving this.”