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

On 30^th 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 1^st 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 View all posts by raytodd2017