Gibraltar's Governor, Sir Francis Richards, has announced a review of the Financial Services Commission (FSC) in Gibraltar

Acting with the approval of the Foreign Secretary, the governor said a team lead by Richard Pratt would conduct the review.

It is the second supervisory review of the FSC in Gibraltar, said the Foreign Office. It is expected to take place within the next four months. The first review took place in 1997.

The review will look at the FSC's supervisory activities in banking, insurance and investment services, as well as other areas.

Under the FSC Ordinance (1998), the reviewers are required to report and make recommendations to the Foreign Secretary. The report is expected to be published in September 2004, said the Foreign Office.

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