Ernest Lima


Ernest is a Partner at XReg Consulting, a group of former regulators with practical experience in formulating public policy and developing regulation for blockchain, Distributed Ledger Technology (DLT) and cryptoassets.

Ernest is responsible for all in-house legal matters, business direction and for the legal analysis of jurisdictions’ legislative and regulatory frameworks. He assists in the determination of appropriate strategies for the efficient adoption of new rules and requirements. Ernest’s legal background, formidable attention to detail and experience leading Gibraltar’s Legislative Reform Programme (LRP) have equipped him well to fulfil XReg’s clients’ needs.

Ernest joined the Gibraltar Financial Services Commission (GFSC) in 2014 and was appointed Head of Policy in 2017. His responsibilities included maintaining and developing an effective legislative and regulatory framework for financial services in Gibraltar. Ernest led and managed the LRP, a flagship project consisting of the single most extensive reform of Gibraltar’s financial services legislation into a consolidated Act and supporting regulations.

In addition to his work in the LRP, Ernest led on the transposition of many EU Directives and on financial services policy and legislative preparatory work for Brexit. He was part of the team that designed and implemented the DLT regime in Gibraltar and brought DLT Providers within scope of AML legislation.    

Ernest started his career in litigation as a qualified lawyer. Shortly after, he joined the financial services team at Hassans International Law Firm where he practised for seven years, advising banks and other financial institutions.

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