The long-anticipated report, which is hoped to vindicate STM’s business practices in the crown dependency, is the result of an agreement between STM and the Gibraltar Financial Services Commission – after the regulator revealed its compliance concerns.
In a statement to the London Stock Exchange on Friday, STM said: “The respective Gibraltar regulated entities are still working collaboratively with Deloitte and the Gibraltar Financial Services Commission in order to finalise the third-party review (a Skilled Person Review) being carried out under Section 7 of the Financial Services (Information Gathering and Co-operation) Act 2013, on certain aspects of the various Gibraltar businesses.
“Deloitte are expected to finalise their report in the coming days, on receipt of the respective management responses from the various Gibraltar businesses.
“A fuller update will be provided as soon as the finished report is delivered to the respective parties.”
The report was originally expected to complete at the end of March.
The stock exchange update did not provide a date for when it expects the report to be completed.
