GIBRALTAR Law and Practice Contributed by: Adrian Pilcher, Stuart Dalmedo and Louise Anne Turnock, ISOLAS LLP
8.4 Key Disclosure Requirements for AI Use Gibraltar does not currently impose any AI-specific disclosure obligations. There is no statutory require - ment to disclose AI strategy, AI governance, AI risk or AI incidents expressly because they involve AI. However, AI can trigger disclosure obligations indi - rectly, where it is material under: • general corporate reporting requirements; • prospectus and offering disclosure standards; • GFSC risk and governance disclosures for regu - lated firms; and • data protection and incident-notification regimes. In practice, disclosure is principles-based and mate - riality-driven, not rule-driven.
boards and officers therefore arises through existing legal regimes, most notably: • directors’ duties under the Companies Act 2014 and common law; • sectoral regulation and supervision by the GFSC (for regulated entities); • data protection law (Gibraltar GDPR and DPA 2004); • consumer protection and unfair trading law; and • tortious, contractual and reputational claims. Crucially, AI use does not displace board account - ability. Directors cannot avoid exposure by delegating AI matters to management, IT or third-party vendors where AI is material to the business.
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