2. Gibraltar has its own legal system. The Laws of Gibraltar can be accessed via an HM Government of Gibraltar website. The Government and Parliament of Gibraltar are responsible for transposing EU laws into Gibraltar legislation, for example, the Second Payment Services Directive (PSD 2) and the General Data Protection Regulation (GDPR).
4. The FSC is keen to develop Gibraltar as a Centre of Excellence for Distributed Ledger Technology. Gibraltar's status in the banking and insurance industry has been uncertain in light of Brexit. At present Gibraltar benefits from the EU passporting system. Gibraltar's ability to offer financial services to the EU post 31 December 2020 (the end of the implementation period) is unclear. Gibraltar will not be included in the territorial scope of the agreements to be concluded by the UK and the EU once the UK leaves the union.
5. The Gibraltar Regulatory Authority (GRA) is the nominated Data Protection Commissioner of Gibraltar. This makes the GRA the independent authority that deals with data protection. GRPR guidance is available on the GRA website.
Morton Fraser do not advise on matters of Gibraltar law but our teams are happy to work alongside law firms in Gibraltar.