Access to Financial Services Markets Market access arrangements for financial services between the UK and Gibraltar
Gibraltar is an Overseas Territory with internal self-government. Gibraltar was not a Member State of the EU in its own right. In EU law, Gibraltar was classified as a European Territory, whereby a Member State (the UK) was responsible for its external relations (Article 355(3) of the TFEU). It is through the UK’s responsibility for its external relations that the TFEU applied to Gibraltar. EU law applied to Gibraltar by virtue of Gibraltar’s own European Communities Act 1972 and, under the Withdrawal Agreement, EU law was applicable during the Transition Period. Gibraltar was also part of the EEA by virtue of Article 126 of the EEA Agreement.