GibraltarWealth Management
Below is shown an extract from a letter sent in March 1999 by the Hon. Peter Montegriffo, Minister for Trade & Industry in the Gibraltar Government to 300 senior journalists in the UK, in response the accusations made by the Spanish Government.
The Financial Times reported on 5th February 1998: "Using Gibraltar, which has had to upgrade its rules to EU standards, as a benchmark," Mr Cook said "he wanted all territories with financial sectors to have 'the highest standards of regulation'."
At the time of the commissioning of the Edwards Report reviewing financial regulation in the Crown Dependencies of Jersey, Guernsey and The Isle of Man, Mr Edwards was charged with having "regard to other examples of offshore regulatory laws, systems and practices such as Gibraltar", thereby implicitly recognising Gibraltar's exemplary action in establishing a regulatory framework that could be used as a benchmark for other finance centres.
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