The Gibraltar Financial Services Commission (GFSC) has released a publication detailing the outcomes of its thematic review concerning cybersecurity, data protection, and resilience among Trust and Corporate Service Providers (TCSPs). The review identifies specific areas where TCSPs are performing well and highlights critical areas requiring improvement, including governance oversight, risk identification and management, and resilience planning. The document aims to establish minimum standards and clear expectations to guide TCSPs in strengthening their operational frameworks, ensuring alignment with international best practices, and maintaining robust systems proportionate to their operational scale and complexity.

Compliance officers in the TCSP sector should review the GFSC's findings and expectations to assess their current cybersecurity, data protection, and resilience measures. The publication provides a roadmap for necessary enhancements, emphasizing the need for robust governance and risk management. While no specific compliance deadline is mentioned, firms are expected to align with the outlined standards to ensure continued regulatory compliance and operational integrity. Failure to address identified weaknesses could lead to future supervisory actions.