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Gibraltar
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Chairman’s Report

Annual Report 2009

I have pleasure in presenting the Annual Report of the Gibraltar Investor Compensation Scheme for the period ending 31 December 2008.

This report is made in accordance with Section 7 of the Investor Compensation Scheme Act 2002.

There have been no cases in 2008 that have caused the Scheme to be triggered or that have required action on the part of the Board. 

The Board opted to retain the scheme’s insurance cover, which will become payable when the Commissioner declares a participant in default as prescribed by the Act.  Although there has been no change to the level of cover, 2.5 million Euros, premiums this year have increased considerably as a result of the current market environment. 

The Board will continue to work with Government, industry and other stakeholders to ensure the operation of the scheme remains efficient, effective and appropriate for Gibraltar.

Details of the current Board are provided in the report.          

Marcus Killick
Chairman
Investor Compensation Scheme

Report and Financial Statements - 31 December 2008