CONFIDENTIAL

agreed

provided it was proper for me to do so.

the development plans taking place in Gibraltar.

clearly aware of the risks they are taking

little worried at the back of his mind.

5.

We discussed

Bossano is

and perhaps a

I had a short meeting with Mr Penham-Brown, the Financial

Commissioner recently appointed by the Gibraltar Government.

I was impressed by him. He was determined to ensure that the

finance and banking sectors in Gibraltar are properly

regulated. I advised Bossano to keep in close touch with him

and to give him all the support he needed.

THIS IS A COPY

THE ORIGINAL HAS BEEN

CLOSED UNDER

POI EXEMPTION NO.27(1)

CONFIDENTIAL

"

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