ARTICLE · 07 OCTOBER 2008

Commercial Update - October 2008

Appleby

Explore more from Appleby

The Isle of Man Financial Services Commission is responsible for the regulation of the majority of the financial sector, namely: banks, building societies, investment businesses and fiduciary services providers.

Isle of ManWealth Management

Financial Services Act 2008
by Simon Harding, Partner

The Isle of Man Financial Services Commission is responsible for the regulation of the majority of the financial sector, namely: banks, building societies, investment businesses and fiduciary services providers. Until now each category of financial services provider has been subject to separate, independent legislation and regulations providing for different categories of licence. The Financial Services Act 2008 consolidates the regulatory regime in respect of each of the categories under one Act, providing transparency and significant simplification. This is particularly so in the case of a financial service provider who under the current regime holds more than one type of licence. The regulation of fund vehicles in the Isle of Man has also been updated in a new Collective Investment Scheme Act 2008.

We operate a free-to-view policy, asking only that you register in order to read all of our content. Please login or register to view the rest of this article.

Register for freeORLog in

Related Articles

Job Vacancy: Senior Trust & Company Administrator10th June 2026

Isle of ManWealth Management

Sentient International Limited

Isle Of Man Trusts: A Stable Legacy For South Africans

Isle of ManWealth Management

The Sovereign Group

Establishing And Administering An Isle Of Man Foundation (2 Of 3)

GlobalWealth Management

Dixcart Group Limited

Professional Trustees: Protecting Wealth, Preserving Legacies

Isle of ManWealth Management

Sentient International Limited

5 Lessons In Wealth Preservation For Middle Eastern Families

Isle of ManWealth Management

Sentient International Limited

Legal Intelligence Newsletters: sign up for the latest legal and regulatory news on your chosen topics

Read more about

See more popular content from

Wealth Management

Guide To Trusts In The Isle Of Man

The Isle of Man offers wealthy families a politically stable, well-regulated and practical base in which to establish wealth and business succession planning structures. Modern and robust legislation, high-quality professional advisers and service providers, and a reputation for cost-effectiveness, all contribute to the island's attractiveness as a trusts jurisdiction.

Isle of ManWealth Management

Isle Of Man Pension Schemes

Imagine a SIPP Which can invest directly in buy-to-let residential property (at home and abroad); Whose benefits can be taken through flexible drawdown, with no annuity requirement – ever; Which pays 30% of the fund at retirement as a tax-free lump sum.

Isle of ManWealth Management

Department of Economic Development

Piercing The Corporate Veil

One of the fundamental principles of company law is that a lawfully incorporated company has a legal personality and identity that is separate from its directors or shareholders.

Isle of ManWealth Management

Financial Sanctions Regimes

There has been much in the press recently about financial and economic sanctions being imposed.

Isle of ManWealth Management

The Trustee Act 2001

The Trustee Act 2001 (an Act of Tynwald) (the "Act") was enacted in an attempt to satisfy criticism of certain aspects of trust law as it then stood.

Isle of ManWealth Management

The UK Takeover Codedoes It Apply To You?

Various changes were made to the application of The City Code on Takeovers and Mergers (the Code), widening the categories of companies regulated by the Code.

Isle of ManWealth Management

Fintech And The Isle Of Man

E-Business encapsulates a number of sectors including e-gaming, which is well known to most readers, and Fintech.

Isle of ManWealth Management

Protecting Luxury Assets And Preserving Legacies In The Middle East

Over the past two decades, the Middle East has emerged as one of the fastest-growing regions for wealth creation.

GlobalWealth Management

Sentient International Limited

Legislative and Regulatory Recommendations Of Isle Of Man Funds Review Group

The Isle of Man funds industry has been the subject of a recent high level review to identify how the Island can continue to expand the size and increase the quality of the business.

Isle of ManWealth Management

Department of Economic Development

IP Holding Companies

The Isle of Man has ratified the key international IP treaties/conventions and, as such, an Isle of Man company is the best offshore vehicle for holding IP rights.

Isle of ManWealth Management