ISLE OF MAN FSA RESPONSE TO CONSULTATION RESPONSES TO DRAFT BENEFICIAL OWNERSHIP REGULATIONS

On 30th November, the FSA published a response following its consultation on the draft Beneficial Ownership (Civil Penalties) Regulations 2018 for contraventions under the Beneficial Ownership Act 2017, which are expected to come into force on 1st February.  Because there were no material concerns raised about the proposed Regulations, the FSA intends to proceed with the introduction of the Regulations.

https://consult.gov.im/financial-services-authority/contraventions-of-beneficial-ownership-act-2017/supporting_documents/Consultation%20response%20CP1805T17.pdf

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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