The Isle of Man authority responsible for foreign sanctions (Customs and Excise) has recently issued a General Licence that streamlines the way in which Advocates can be permitted to receive payment for their legal fees when working for sanctioned entities and individuals.

The Isle of Man Central Registry opened a consultation in November on a proposed Companies Miscellaneous Amendment Bill, which is intended to update the island's Corporate Laws in line with current international anti-money laundering and countering the financing of terrorism (AML/CFT) standards.

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