Snagged by its label

Not every so-called offshore finance centre is an island. Gibraltar - though as isolated as an island for some of its recent history - is attached to the Spanish mainland, but its geography is not the only reason Gibraltar's financial services community would rather it did not bear the 'offshore' tag. "We're moving away from the offshore label - we're an international finance centre," says David Parody, chief operating officer of the Gibraltar Financial Services Commission. "Protecting Gibraltar's reputation is our biggest role. As a small centre, knocks are felt more keenly. Gibraltar ha...