Gibraltar has its own legal system which is based on English Common and Statute Law, with variations introduced by local statutes previously termed “Ordinances”, now referred to as Acts. There is a newly refurbished Magistrates Court, Supreme Court and Court of Appeal. The local profession compromises mostly UK trained barristers and solicitors.


Accounting and auditing standards are based on UK standards, amended where necessary to comply with Gibraltar law. The local accounting profession compromises mostly UK trained Chartered or Certified Accountants represented by the Gibraltar Society of Accountants. Statutory auditors must be approved by and registered with the Auditors Registration Board; this board consists of the Financial Services Commission and his appointees.


Financial regulation was established in 1989 by the creation of the Financial Services Commission to provide strong investor protection in relation to the Financial Services Sector. Due to the investor protection legislation enforced by the Financial Services Commission Gibraltar enjoys a reputation of being one of the best-regulated finance centres anywhere.