The PDP takes note of the announcement by Barclays Bank of its review of its Gibraltar operation as part of its general review of its business worldwide.
It hopes that at the end of the review process it will conclude that it should retain its links with the Rock that go back well over 125 years. In the meantime it wishes to express solidarity with the local Management and employees and their desire to retain their jobs and prospects.
Opposition spokesman for Justice, Home Affairs and Financial Services, Selwyn Figueras, is today seeking clarification and assurances from the Government to allay finance industry concerns stemming from Gibraltar's apparent failure to meet its obligations under the International Organisation of Securities Commissions (‘IOSCO’), namely compliance with the Multilateral Memorandum of Understanding (‘MMoU’).
“Established in 2002, the MMoU provides a global framework for enforcement co-operation between securities regulators, thereby helping to ensure effective regulation and to preserve the strength of securities markets. Signatories represent approximately 95% of global securities markets, and the IOSCO MMoU is the leading instrument for multi-lateral co-operation in the enforcement of securities regulation. “
Last night, Customs Officers arrested two local men who were seen throwing a large bag over the frontier fence at British Lines Road. After an attempt to flee from the Officials, the men apprehended and arrested.
The Leader of the Opposition, Daniel Feetham, yesterday assured the Chief Minister that no one in the GSD is angry at either him or the Government. “What we are” said Mr. Feetham “is concerned, along with many others members of the community, that Mr. Picardo seems determined not to provide information he finds inconvenient”.
The GSD insists that they have seen this in relation to the refusal by the Government to state who invited the Chief Minister and Dr Cortes together with their spouses to the Washington Presidential inauguration events, which reportedly cost up to US$100,000 and what (if any) arrangements the Government has in place with that person or company. At the end of the day the Opposition is entitled to scrutinise any such arrangements including whether they provide the taxpayer with value for money or whether they are susceptible to scrutiny in other ways. Most people in Gibraltar have been astonished that the Government has refused to answer what have been very simple questions from the Opposition.