The unnamed individual was arrested alongside STM chief executive Alan Kentish on 19 October by police officers from the territory’s Money Laundering and Investigation Unit (MLIU).
In a statement to the London Stock Exchange on October 30 the product provider stood by Kentish declaring there was ‘no case to answer’.
The initial notice backing Kentish also said it was in the process of considering quitting its Gibraltar HQ.
Royal Gibraltar Police told International Adviser: “We are aware that a press release has been issued by a local financial group regarding the arrest of one of its employees.
“We confirm that two employees of the financial group were arrested by officers of the Money Laundering and Investigation Unit on Thursday 19 October 2017 on suspicion of failure to disclose.
“No charges have been preferred and both individuals are currently on police bail. The matter remains under investigation.”
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