HMGOG and the GFSC have for some time been considering a new approach to license applications by firms to the GFSC with the ultimate aim of streamlining the process into deliberate stages and dealing with the major areas of importance at the front end of applications. As a result of this work, the GFSC has carried out a comprehensive and detailed review of the entire application process for each sector and application, and has designed a new methodology for these applications to be considered.
Minister for Financial Services Albert Isola MP commented; “I am absolutely delighted with this work and commend Kerry Blight and his team for this excellent and detailed review which will mark a significant change in our approach to firms applying to the GFSC. Speed to market is critical to our Jurisdiction, especially so when we are working to maintain the highest international standards and committing to faster response times. This is exactly what the industry needs at this moment in time.”
The full extent of these proposals can be read following this link: https://bit.ly/45dTV8e