The Gibraltar Financial Services Commission has increased the amount of money it intends to extract from the firms it supervises during this year and next, with effect from 1st April 2017.

The Government of Gibraltar promised last year to keep on supporting the GFSC financially, but to an ever-decreasing extent and helped by a new regime by which it expected the regulator to extract monies from its subordinate firms. The GFSC refers to this as a "new fee methodology." Originally, the Government envisioned an annual increase of up to 4% in licence fees but its figure for this year is now 2%. There will be no increase in application fees.

Annual licence  fee invoices will be  sent out  to licensees on 31st March, with effect  from 1st April. Licensees will have 28 days to pay. Every firm with more than one licence is to receive a single invoice. As in the past, fees are non-refundable, with no option of pro-rata or offset.