The Gibraltar FSC has always been something of an 'elephant's graveyard' for moribund British regulatory experts and functionaries, so it is good to know that a shake-up is in progress.

The Gibraltar Financial Services Commission is changing its structure in pursuit of its strategic plan that it published on 14th October. The new structure will be effective on 1 January 2015. Key senior appointments include Heidi Bocarisa to the position of Director of Strategy and Planning; Joanne Beiso to Head of Conduct of Business Supervision; and Neill Perera to Head of Professional Services Supervision. Joe Perdoni’s appointment as Head of Prudential Supervision was announced on 1 September and Kathryn Morgan’s appointment as Director of Regulatory Operations was announced on 15 September. Ms Morgan is also Acting Head of Authorisation. Hannah Strain has also been appointed Head of Operations with responsibilities that include HR, IT, and Finances. Tessa Sacramento-Menez will take up the post of Head of Authorisation during 2015.

Two new positions for a Director of Legal, Enforcement and Policy and a Head of Enforcement will be advertised shortly with the aim of attracting local candidates.

The organisational re-structuring is designed to improve 'front-line regulation'. The FSC wants to be seen as the model international financial services regulator.

The Gibraltar FSC has always been something of an 'elephant's graveyard' for moribund British regulatory experts and functionaries, so it is good to know that some sort of shake-up process is in progress.