73 results found

On 1 August, significant changes were made to the Isle of Man's banking regulatory framework, through the introduction of two new classes of deposit-taking licence.

The Isle of Man Financial Services Authority has intensified its scrutiny of due diligence processes for incoming controllers of regulated entities, creating potential regulatory risks for firms that cannot promptly demonstrate compliance.

As a member of the Global Financial Innovation Network (GFiN), the IOMFSA is sharpening its focus on innovation and dynamic regulation.

The Isle of Man is consulting on proposals to introduce a ‘legitimate interest’ access route to beneficial ownership information. The move is intended to enhance transparency and align the Island’s framework with evolving international anti-money laundering standards while maintaining safeguards for privacy and personal safety.

The Isle of Man's reputation for attracting high calibre captive business has been further enhanced with the rolling out of new legislation governing solvency requirements.

On 1 January 2017 the Financial Services Rule Book 2016 comes into operation. With this will be the requirement on all Isle of Man licence holders to establish, implement and maintain an effective whistleblowing policy.

On 18 July 2016, ESMA published its advice to the European Commission on whether the AIFMD passporting regime should be extended to the Isle of Man and certain other non-EU countries.

It’s now official – the Isle of Man is the jurisdiction of choice for non-UK companies seeking a listing on London’s Alternative Investment Market.

The Isle of Man has published its latest sectoral risk assessment for Trust and Corporate Service Providers (TCSPs), confirming that the sector’s money laundering risk remains rated Medium High. The assessment highlights strengthened regulatory controls, ongoing AML obligations and the importance of risk management across the Island’s international financial services sector.

On 1st January 2019 the "substance-based regime" was introduced into the Crown Dependencies (Guernsey, Jersey and the Isle of Man).

1 February 2014 may be a Saturday, but it is still a significant business day in the Isle of Man financial services sector.

Isle of Man based companies turned in another magnificent performance at this year’s International Investment fund and Product Awards held at London’s Victoria Park Plaza Hotel before a prestigious audience of industry peers from the offshore financial world.

The Moneylenders Act 1991 was intended to regulate lending practices in the Isle of Man by providing a regulatory framework for consumer loan agreements.

From the landlord at a popular Douglas drinking hole to the Lieutenant Governor, everyone is talking about digital currency and the potentially huge benefits to the Island.

The Isle of Man has enjoyed continuous economic growth for over two decades while at the same time introducing zero business tax, radically reforming its company law and maintaining a ‘triple A’ credit rating. ANDREW ASHWORTH of Abacus Trust.

Greg Jones considers the fate which may await the UK's super rich following this week's UK General Election…

The Isle of Man Financial Services Authority (FSA) will implement a new fee model with effect from 1 April, introducing new change of control and other transaction fees.

Adam Killip, an associate advocate within the regulatory & compliance services team in leading offshore law firm DQ Advocates, provides a useful summary of what to expect in 2016 if you are operating in the regulated sector.