In 2000 the GBA played a leading role in helping Gibraltar achieve Qualified Intermediary (QI) status from the U.S. Internal Revenue Service. This was a vital step enabling banks in Gibraltar to continue investing in U.S. Securities on behalf of their clients, and involved the IRS reviewing and approving Gibraltar's anti-money laundering legislation and practices.
During 2001, Gibraltar has been subject to reviews from the Financial Action Task Force (F.A.T.F.) and the International Monetary Fund (I.M.F.). Along with other professional bodies, the GBA was heavily involved in discussions with both reviewing organisations. Members of the GBA have also been pleased to play a very active role in the formation of a branch of the Compliance Institute in Gibraltar which subsequently changed to the Gibraltar Association of Compliance Officers and will be working very closely with it in the future.
In June 2001 the GBA issued a leaflet entitled “You And Your Bank Or Building Society”. This is designed to explain to potential clients the reasons why they are asked to provide such detailed information and various documents when opening a bank or building society account. A copy of the leaflet can be downloaded from the publications page on this web site.
During 2002 the F.A.T.F. and I.M.F. reports have both been published and as anticipated, are very complimentary of the regulatory standards in Gibraltar. The F.A.T.F. report and the I.M.F. evaluation are both available on the Financial Services Commission web site at www.fsc.gi
In September 2003, the GBA organised a Conference for its members entitled "Facing the Challenge". After an opening address from the President, Franco Cassar, James Tipping, the Finance Centre Director gave a presentation outlining recent developments within the Gibraltar Finance Centre. Marcus Killick, the Financial Services Commissioner, followed this by facilitating a workshop on risk with particular emphasis on training. Gabrielle Gachè from "Power of Words completed the conference with workshops aimed at improving communication with staff and clients.
In September 2004, the GBA organised its second conference this time entitled "Banking the Risks and Rewards". The morning session comprised a workshop facilitated by John Fitz-Gibbons of Sales and Management Development Programmes entitled "Developing People and Your Team. This proved to be very successful and appreciated particularly by those in a front office capacity. The afternoon session started with a presentation by Marcus Killick, the Financial Services Commissioner who outlined the Commission's concern over training and competence in the finance industry and its aims towards an "Approved Persons Regime".This was followed by an address by the GBA President, Albert Langston who expressed his views on the current "Risks and Reards" within the industry. We were delighted to then be addressed by the Chief Minister, The Hon. Peter Caruana QC, who gave an eloquent response.
On Wednesday 28th September 2005, the Gibraltar Bankers´ Association (“GBA”) held its third annual conference this time entitled “Working in Partnership”. After an introductory address by the President of the Gibraltar Bankers’ Association, Roy Clinton, the Chief Minister the Hon. Peter Caruana QC. addressed the conference and then took questions from the floor. Following refreshments, the Financial Services Commissioner, Marcus Killick. addressed the meeting giving an update on developments in the regulatory field of the jurisdiction. The morning session was concluded with an address by the Gibraltar Financial Intelligence Unit who gave an excellent account of their work with examples of successful cases. After lunch, the conference was given over to The Government Legislative Support Unit who will facilitated workshops on the impending Data Protection Legislation.
The fourth annual conference was held on Wednesday 27th September 2006. This year it was entitled "Innovations in Banking" and attracted the greatest number of attendees so far. It was a very full programme with the morning being devoted to a Course on Basle ll jointly organised by the GBA and GACO and presented by Stephen Giles. Roy Clinton opened the afternoon session by giving the Presidential address. This was followed by addresses by Marcus Killick, the Financial Services Commissioner, Daniel Feetham who spoke on Islamic Finance and The Attorney General, Ricky Rhoda who spoke on Mutual Assistance and particularly the case against the "Nat West Three" in the UK. The afternoon culminated in an address by the Chief Minister, The Rt Hon Peter Caruana QC who also answered questions from the floor.
On Wednesday 26th September 2007, the Gibraltar Bankers´ Association held their annual conference, which was entitled “Protecting and Developing The Gibraltar Finance Industry”. There were three sessions in the morning. One was Developing Client Relationships facilitated by Gabrielle Gache, another on Risk & Reputational Issues, facilitated by David Parody from the FSC and the third on Protecting and Developing Staff by Sarah Gomersall from Credit Suisse. After lunch, the afternoon session, which was aimed primarily at senior management, featured a summary of the morning sessions by Gabrielle Gache, and an address by the President of the Gibraltar Bankers’ Association, Kerry Blight. After a short break the CEO of the Financial Services Commission, Marcus Killick spoke about the latest regulatory developments and finally the Chief Minister the Hon. Peter Caruana QC gave a closing address followed by a question and answer session. As this was the twenty fifth anniversary of the establishment of the Gibraltar Bankers’ Association, a Gala Dinner was held at the International Casino in the evening with John Humphrys, the broadcaster as the guest speaker.
The 2008 Dinner was held at the Eliot Hotel and attracted a record number of attendees. This guest speaker this year was Jonathan Charles of BBC fame who has covered various Gibraltar issues in the past and remembered it with fondness.
In May of 2009 the GBA teamed up with the Gibraltar branch of the Institute of Financial Services to present a Prestige Lecture. The lecture was called Banking After the Credit Crunch and was delivered by Angela Knight CBE, CEO of the British Bankers' Association. She gave a very interesting account of how she saw the impact on banks and the challenges that they faced.
In October 2009, the GBA lead on the organisation of and participated in the GFCC conference entitled "Gibraltar 2015". The GBA's contribution was presented by Carlos Martins and Albert de la Heras and is available here as a download.
The foregoing events are considered to have been very successful and further ones will be contemplated. Anyone wishing to suggest possible future topics should contact a member of the Executive Committee.