ISLE OF MAN: CONSULTATION ON THE INTRODUCTION OF CIVIL PENALTIES FOR SOME CONTRAVENTIONS OF THE BENEFICIAL OWNERSHIP ACT 2017

On 24th September, the Isle of Man FSA published a consultation document seeking views on the introduction of civil penalties for some contraventions of the Beneficial Ownership Act 2017, and invites interested parties to consider the draft Regulations set out within the paper.  The closing date is 2nd November.  The areas to be covered by civil penalties are: failure to disclose beneficial ownership information on receipt of a notice to do so; and provision of false or misleading information

https://www.iomfsa.im/fsa-news/2018/sep/consultation-on-the-introduction-of-civil-penalties-for-some-contraventions-of-the-beneficial-ownership-act-2017/

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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