A new corporate governance code has been issued by the Association of Compliance Officers. Corporate governance is a core part of running a business, and the new code aims to help local businesses navigate laws and regulations. Co-author of the code, Soroush Kafiabadi believes this document will provide a road map for local companies to achieve a structured approach to corporate governance.

The Institute of Risk Management (IRM), in partnership with Gibraltar businesses, relevant educational institutions, government bodies and related industry bodies, is establishing an IRM Regional Group. The Institute of Risk Management (IRM), together with its members working locally has recognised there is demand to enhance risk management skills in Gibraltar, which would align to the well-established, strong jurisdictional focus on compliance. Both these disciplines are crucial for maintai...

Practices continue to emerge that obscure true beneficial ownership, including the submission of incomplete or inaccurate information when registering with public databases. Equally concerning is the manipulation of nominee directors or shareholders, as well as intricate corporate structures comprising layers of companies, trusts, offshore entities and shell companies to hide beneficial ownership. The complexity of some ownership structures more resemble a work of fine art than an organisati...

Join us for an exclusive MLRO Masterclass offered by GACO and delivered by David Parody alongside the Gibraltar Financial Intelligence Unit (GFIU). This masterclass is specifically designed for Money Laundering Reporting Officers (MLROs) and/or their deputies and will feature four interactive sessions aimed at enhancing expertise in anti-money laundering (AML) and financial crime prevention. Dates: 25th and 26th March Location: Gibraltar UniversityFormat: Four interactive sessions (only one ...

A big thank you to the Hon Min Nigel Feetham KC MP for having hosted another memorable ConnectHub event, where GACO Gibraltar Association of Compliance Officers was allowed to motivate and encourage young local talents to pursue a career in Compliance, Risk, Corporate Governance and/or Ethics.  After a brief introduction by Carlos M. Martins, we had local professionals not only from the Financial Services Sector, but as well from the Gambling Sector, telling their own compelling life stories...

Good corporate governance is the responsibility of every board of directors and can be instrumental in helping businesses with a clear strategic direction and long-term success. GACO has introduced this voluntary code to assist directors and businesses to pick their way through laws and regulation and ensure the adherence to sound corporate governance within their companies. Many cases of corporate fraud, accounting scandals and organisational failures leading to lawsuits, resignations or eve...

Risk assessments are the key to effective compliance, but they come with challenges—data overload, inconsistent scoring, evolving regulations and a lot of work. In this webinar, Risk Experts from Binderr will break down: How to correctly structure risk assessments Common pitfalls compliance teams face (and how to avoid them) Practical steps to streamline your process with automation and reliable data Advanced techniques for assessing jurisdictional risk in a fast-changing world &...

BWRA is a comprehensive process, found to be of great value by licensed institutions in identifying, assessing and mitigating money laundering and terrorist financing  risks throughout the business. The process works by periodically assessing the potential risks that an organisation may face. This assessment takes into account risks across its various product lines, products, services, customer types, geographic locations and any other relevant factors and  will help your organisation identi...

Legal professionals are regularly at risk of being exposed to money laundering (ML), terrorist financing (TF), and proliferation financing (PF) activities. In this seminar, we explore why Know Your Customer (KYC) and Anti-Money Laundering (AML), counter-terrorist financing (CFT) and counter-proliferation financing (CPF) measures are relevant and important. Further information about the content is detailed below: Observance of AML/CFT/CPF requirements is essential not just for legal professio...

Join us for an exclusive event tailored for compliance officers and risk management professionals in Gibraltar. Explore how RuleWise’s cutting-edge, AI-driven Governance, Risk, and Compliance (GRC) solutions are redefining compliance management. Gain insights into how RuleWise's Core Insight delivers unparalleled efficiency, accuracy, and security—empowering organisations to stay ahead of evolving regulatory landscapes. Date: 6th February 2025Time: 9.30hrs to 11.00hrs (coffee and petit fours...

Join us for in-depth, hands-on webinar designed specifically for law enforcement officers, investigators, compliance specialists, and legal professionals. This comprehensive webinar will provide cutting-edge insights into crypto compliance, regulatory frameworks, and investigative techniques. Delivered by world-class experts from Crystal Intelligence, this webinar blends theory with practical applications tailored to Gibraltar. Location: Online WebinarDate: 22nd of January, 2025Time: 9.30-1...

Dear GACO Member, As we look back on what we hope you will agree is another successful year for GACO, we would like to thank you most sincerely for your loyalty as Members and for your ongoing support to all the activities we have organised for you during 2024. A big THANK YOU! As in previous years we will offer anyone paying their membership fee for 2025 before the 31st December 2024 a discount of 10% on the regular membership fee. The regular and reduced fees are: Individual membership ...

GACO, as a thank you to its members, is giving away for FREE a couple of the above mentioned manuals. The manuals will be given out on a FIFO basis. As there are only a limited amount of copies available for FREE, we will possibly not be able to accommodate all the requests. You can only apply for 1 manual per person.   Once you have registered your interest to obtain a copy of the Gibraltar Compliance Manual, we will confirm back to you where you can collect the same in Gibraltar and who y...

DORA has created a regulatory framework whereby the financial firms will have to make sure they can withstand, respond to and recover from all types of ICT-related disruptions and threats, with the objective to prevent and mitigate cyber threats. There are a wide range of entities that are affected by DORA. It covers banks, payment institutions, investment firms, crypto assets service providers and more. Additionally, critical third-party ICT providers are also regulated under the regulation....

Financial Crime training plays an important role in firms, ensuring that employees are equipped with the knowledge and skills to identify, prevent and report any instance of suspected money laundering or other financial crimes.  Designed to equip employees with the knowledge and skills to identify, prevent, and report the activities associated with money laundering and financial crime, Financial Crime training is a crucial part of every good compliance process. It generally encompasses a com...

As a follow up from the GACO Risk on the Rock event, the GBC dedicated a full ViewPoint Program to the topic of AI and cyber crime. Aside from the interviews taken on the day of the event from all the speakers as well as the Vice-Chairperson of GACO - Chas Foster - the live broadcasting included various interviews with Alan Pereira, Chief Information Officer of the GFSC.  Various aspects of AI and cyber crime were covered, highlighting that Gibraltar is at the forefront of those developments...

Last week GACO Gibraltar Association of Compliance Officers hosted its biennial Risk on the Rock event with international and local speakers. We had an attendance of 120, mainly local guests, on the fantastic venue of the Sunborn Gibraltar Yacht Hotel Resort! We had the unique Steve Giles as a Master of Ceremony who guided us through this half-day event, once the attendees had enjoyed their lunch and had the opportunity to network with each other.  The conference was addressed by the Mini...

If you've ever wondered about what a decentralized autonomous organizations (DAO) really is, or if and how compliance requirements apply to DAOs, you're not alone. DAOs have the ability to send and receive virtual currency transactions, to hold virtual currency, and to conduct exchange transactions. As the FATF and local regulators increasingly weigh in, it's vital to understand the far-ranging implications of these technologies. Join us in a discussion with Amber D. Scott of Outlier Complian...

Trust and Company Service Provides (TCSPs)  play a key role in the global economy as financial intermediaries, providing an important link between financial institutions and many of their customers. They provide often invaluable assistance to clients in the management of their financial affairs and can therefore significantly impact transactional flows through the financial system. TCSPs are often involved in some way in the establishment and administration of most legal persons and arrangem...

GACO is delighted to invite you to this keynote Conference focussing on AI, the risks and benefits to our businesses, together with the growing risks we face from cybercrime and scams. We live in increasingly uncertain times and to succeed your business needs to manage a wide range of growing threats whilst keeping up to date with laws and regulations. We are sure you will find this Conference informative and entertaining. This is a not to be missed event but as in previous years attendance n...

What a fantastic beach party! What a fantastic group of people that attended yesterday's GACO 20th Anniversary Beach Party at Sandy Bay in Gibraltar!  We would like to thank Bua Malamalatabua, Angela Almeida and Esther Sanchez del Pozo for having organised this amazing event and the wonderful gift bag!  As one of the attendees clearly expressed it: "It is refreshing to see that Compliance People can celebrate and enjoy themselves in a relaxed environment!" We have taken a couple of pics fo...

We are delighted to invite you to our 20th Anniversary Summer Party. To celebrate this milestone and to thank our members for their continued support, we would like you to join us at a Summer Party at Kokonut on the 3rd July 2024 from 6pm. Please see the link below, where you will find the full information about the Party, and you will be able to register your attendance.  Please note that once registered your attendance will be expected and cancellation or no show will be charged a non-att...

While the scale and extent of sanctions is a modern development, they have a lengthy pedigree, having been used since ancient times. In fact, the first recorded use of sanctions results from a dispute between Athens and Megara, a neighbouring city state, in around 430 BC. After the inhabitants of Megara cultivated consecrated land and killed an Athenian herald, Athens imposed what we would now recognise as trade sanctions. In particular, Megara’s traders were excluded from Athenian markets, ...

Join us for a seminar on Conduct Risk expectations in the Financial Services sector, where industry experts will delve into the critical aspects of managing conduct risk. Gain valuable insights into regulatory expectations, best practices, and the latest developments in conduct risk management, including on enforcement action from the FCA and subsequent lessons learned.  Laura Scarpa will be joining us to share her insights into Conduct Risk and Fair value. Laura is a Partner in Deloitte L...

In accordance with clauses 8.3, 9.5 and 16.1 of the Constitution, notice is hereby given that the Annual General Meeting will be held at 09.30hours on Thursday 6th June 2024 online via GoToMeeting Application. Agenda 1. Approval of the minutes of the 2023 Annual General Meeting held on 27th June 20232. Chairperson’s Report3. Treasurer’s Report4. Training Committee Report5. Ratification of Executive Committee Actions6. Election of Executive Committee for calendar year 2024/2025 (see notes 1 ...

In light of tighter regulation in almost all industry sectors and not only financial services, the role of a compliance officer is a big deal. They’re responsible for keeping the ethical integrity of your company intact and handling any breaches of regulation. A top compliance officer will make sure that all business activity is carried out within a regulatory framework by using a defined and particular set of skills. As well as having the technical know-how and experience, soft skills are ar...

Planning for retirement and encouraging pension savings has historically been and continues to be one of the biggest challenges faced by many Governments worldwide, who are simply unable to sustain existing levels of state benefits. The realistic outcome for many of us will be to work longer and live poorer in retirement. It’s a gloomy outlook, which is why many Governments now require workers to take some responsibility for planning for their own retirement. But the perception that pensions ...

GACO is happy to announce it will once again host an MLRO Masterclass aimed, as last year at MLROs and deputy MLROs.   Money Laundering Reporting Officers (MLROs) act as the focal point within regulated entities for the oversight of all activity relating to anti-money laundering, counter terrorism and counter proliferation financing (AML/CFT/CPF).  Therefore, MLROs need to be equipped with  sufficient expertise and knowledge to fulfil their obligations.  In the current rapidly evolving regul...

HM Government of Gibraltar is pleased to note the amended EU Commission regulation table, in line with the FATF’s white-listing of Gibraltar last month, which was also followed by automatic UK delisting. The removal of Gibraltar from the EU Commission’s table at the first opportunity is very welcome news and another proud moment for our jurisdiction. Minister for Justice, Trade and Industry, the Hon Nigel Feetham KC MP, commented: “The swift removal of Gibraltar from the European Commission'...