ISLE OF MAN: DISCUSSION PAPER ON FUNDING FINANCIAL REGULATION AND DESIGNATED BUSINESS OVERSIGHT

On 30 October, the Isle of Man FSA issued a Discussion Paper, with responses required by 22 January.  The purpose of the paper is to discuss proposals for greater industry funding of financial regulation and Designated Business oversight in the Island.  Increasing funding from industry would provide greater independence from government and move the FSA towards a predominantly industry-funded model (PIFM) in the future.  A separate consultation paper was issued on 16 October with specific proposals to increase fees payable to the FSA from 1 April 2021 and 1 April 2022.

https://consult.gov.im/financial-services-authority/funding-financial-regulation-designated-business/supporting_documents/DP2001T14FundingRegulationandOversight.pdf

https://consult.gov.im/financial-services-authority/fees-from-1-april-2021-and-1-april-2022/consult_view/

I had omitted the following link (as it did not seem to generate much interest!), but it seemed time to add it again and say that, if you would like to make a (polite) gesture and help me with my removal and computer costs, I have a page at https://www.buymeacoffee.com/KoIvM842y

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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