Gibraltar is a UK Overseas Territory and has been British since 1704; Gibraltar enjoys a great measure of self-government. It has a written constitution in the form of the Gibraltar Constitution Order 2006. This, apart from embodying the fundamental freedoms, sets up a Westminster-style democratic Government. It also defines the responsibilities of the Government. Gibraltar’s legal system mirrors that of England and Wales. It is a common law jurisdiction that applies the principles of Equity. Gibraltar’s statute law consists of Acts passed by the Gibraltar Parliament and very few English Acts of Parliament made applicable to Gibraltar by Orders in Council. The Gibraltar Parliament enacts the statute laws of Gibraltar. The statute law of Gibraltar normally follows the pattern of English and European Union legislation by virtue of its EU membership since 1973.
Gibraltar’s finance sector is dynamic, continually evolving to accommodate the needs of emerging new industries, technology and entrepreneurs whilst always catering for the needs and protection of consumers. The Gibraltar Financial Services Commission (GFSC) regulates the financial services industry in Gibraltar.