62 results
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Credit Unions – Deferred Shares
A proposal to make an Order that will permit credit unions to issue deferred shares. MoreClosed 27 May 2019 -
CP19-04/T04 - class 12 authorisation
The consultation concerns the Authority’s proposals to amend the criteria by which an insurer might qualify for a reduced or simplified level of regulation under class 12 authorisation. MoreClosed 13 September 2019 -
CP19-05/T04 – Insurance (Non Long Term Business Valuation and Solvency) Regulations 2020
The consultation concerns the Authority’s proposals to update the capital framework for non-life insurers. MoreClosed 13 September 2019 -
Financial Services (Amendments) Bill – Discussion Paper
This discussion paper seeks views on amendments proposed to primary legislation via a Financial Services (Amendments) Bill. MoreClosed 31 October 2019 -
Auditor Confirmations in Applications for Insurance Authorisation by Protected Cell Companies and Limited Partnerships
There is currently a disparity in regulation between the insurance authorisation application processes of conventional companies as compared to Protected Cell Companies (PCCs) and Limited Partnerships (LPs). The disparity being that as a result of previous updates to legislation conventional company applicants do not need to obtain certain auditor confirmations in respect of their application business plan, whilst in the absence of similar updates PCCs and LP applicants do need to obtain... MoreClosed 3 January 2020 -
Fees 2020
The Isle of Man Financial Services Authority has today issued Consultation Paper CP19-07/T14 on proposed changes to fees payable to the Authority from 1 April 2020. MoreClosed 10 January 2020 -
CP19-10/T11 - Corporate Governance Code of Practice for Insurers
The purpose of the consultation is to obtain views and evidence in relation to proposed changes to the current Corporate Governance Code of Practice for Commercial Insurers (which came into operation on 1 January 2019), including extending the proposed amended code on a proportionate basis to all Isle of Man authorised insurers. MoreClosed 14 February 2020 -
Regulatory Framework for General Insurance Intermediaries
Enhanced requirements for general insurance intermediaries. MoreClosed 28 February 2020 -
Minimum Capital Requirements for Non Long-Term Business PCCs and ICCs
The consultation is to obtain views in relation to proposed minimum capital requirements for PCCs and ICCs under the new valuation and solvency regime for non long-term business. MoreClosed 22 May 2020 -
Credit Unions – Savings Limit Change
A proposal to make an Order that will increase the limit for savings in a credit union. MoreClosed 13 September 2020 -
Fees from 1 April 2021 and 1 April 2022
Further to the related Press Release on 15 October 2020 , the Isle of Man Financial Services Authority (‘the Authority’) has today issued a Consultation Paper (CP20-03/T14) on proposed changes to fees payable to the Authority from 1 April 2021 and 1 April 2022. MoreClosed 11 December 2020 -
CP20-04-T17 Insurance Regulations 2021
The consultation is to obtain views in relation to proposed changes to the Insurance Regulations 2018. Notably, the changes include updated requirements for non-long term insurers in respect of regulatory reporting and a revised definition of class 12 insurance business. For all insurers the proposals update and consolidate the requirements for conventional companies, protected cell companies, limited partnerships and incorporated cell companies, which are currently set out in various... MoreClosed 22 December 2020 -
Amendment to the Insurance (Conduct of Business) (Long-Term Business) Code 2018
The purpose of the consultation is to obtain views in relation to the proposed replacement of the Insurance (Conduct of Business)(Long-Term Business) Code 2018 with the Insurance (Conduct of Business)(Long-Term Business) Code 2021 which includes amendments to the exemptions within the code. MoreClosed 15 January 2021 -
Funding Financial Regulation and Designated Business Oversight
Further to the related Press Release on 15 October 2020, the Isle of Man Financial Services Authority (‘the Authority’) has today issued a Discussion Paper on Funding Financial Regulation and Designated Business Oversight (DP20-01/T14). The Discussion Paper can be accessed below either as an Online Survey or as a downloadable PDF document under 'Related'. MoreClosed 22 January 2021 -
Insurance (Long-Term Business Valuation and Solvency) Regulations 2021
The consultation is to obtain views in relation to proposed amendments to the Insurance (Long-Term Business Valuation and Solvency) Regulations 2021. The amendments update the Insurance (Long-Term Business Valuation and Solvency) Regulations 2018 in light of the UK’s withdrawal from the EU and the anticipated launch of the Insurance (Non Long-Term Business Valuation and Solvency) Regulations 2021 in June 2021. MoreClosed 1 March 2021 -
Funding of administrative expenses of the Resolution Authority
This Consultation Paper is about the recovery by the Financial Services Authority, of its operational expenses for bank resolution activities, by means of an annual levy on the banking industry. MoreClosed 21 March 2021 -
Financial Services Tribunal (Amendment) Rules
The purpose of the consultation is to obtain views on a proposed change to the Financial Services Tribunal Rules 2015 (‘the FST Rules’). The consultation is particularly relevant to persons that may appeal against decisions of the Isle of Man Financial Services Authority under the FST Rules. MoreClosed 9 July 2021 -
Assessor of Income Tax Gateway
The Isle of Man Financial Services Authority has today issued a Consultation Paper (CP21-07) on proposed amendments to the exceptions from restrictions on disclosure of information to the Assessor of Income Tax. MoreClosed 29 November 2021 -
Consultation on the proposed Beneficial Ownership (Civil Penalties) Regulations 2022
The Authority intends to broaden the scope of contraventions and offences for which a civil penalty can be considered, including those where currently only criminal sanctions are available. MoreClosed 28 February 2022 -
Request for Input – Innovation and the Regulatory Perimeter
The Authority is currently considering the issue of innovation linked to crypto-assets, which is outside of the regulatory remit at this time, and what this means for various stakeholders including the Isle of Man Government, regulators, businesses and consumers. The purpose of this request is to develop our knowledge by seeking information and opinion from a wide range of interested parties on the implications of innovation in connection with certain activities that are... MoreClosed 18 April 2022 -
Bank (Recovery and Resolution) Administrative Levy Order 2022
The purpose of the consultation is to obtain views on a proposed levy to fund the operational costs of the Resolution Authority. The consultation is particularly relevant to banks operating in the Island (other than Class 1(3) licence-holders, which are outside the scope). MoreClosed 18 April 2022 -
Discretionary Civil penalties for Entities Regulated under the Insurance Act 2008
The purpose of the consultation is to obtain views and evidence in relation to the making of regulations in respect of discretionary civil penalties on entities regulated under the Insurance Act 2008. MoreClosed 24 June 2022 -
New Authority Funding Model from 1 April 2023
Further to the related Press Release (Feedback sought on proposed new funding model) on 12 May 2022 , the Isle of Man Financial Services Authority (‘the Authority’) has today issued a Consultation Paper on the proposed new funding model from 1 April 2023 (CP22-04). MoreClosed 24 June 2022 -
Fees Orders and Regulations 2023
Further to the related news release (Feedback sought on fees legislation) on 18 October 2022 , the Isle of Man Financial Services Authority (‘the Authority’) has today issued a Consultation Paper on the Fees Orders and Regulations for 2023 (CP22-05). MoreClosed 29 November 2022 -
Audit Working Papers Regulations 2023
It proposes legislation under the Companies Acts of 1982 and 2006 to require predecessor auditors to share audit working papers with successor auditors. MoreClosed 21 April 2023 -
Depositors’ Compensation Scheme Review
This consultation proposes revisions to the Depositors’ Compensation Scheme, including legislation to enable data on individual deposits to be gathered via a Single Customer View mechanism. MoreClosed 21 January 2024 -
Regulation of Crypto-Asset Activities
The purpose of this Discussion Paper is to seek views on the current approach to the oversight of certain crypto-asset activities for anti-money laundering and countering the financing of terrorism (‘AML/CFT’) purposes, the desirability (or not) of regulation, the potential approaches to regulation and how the cost of regulation should be funded. MoreClosed 9 April 2024 -
AML/CFT Framework legislation updates
This Consultation Paper (‘the Paper’) is issued by the Isle of Man Financial Services Authority (‘the Authority’) in conjunction with the Department of Home Affairs (‘DHA’) and the Isle of Man Treasury. The Authority is the regulatory body for financial services in the Isle of Man, and the oversight body for Designated Businesses (‘Designated Businesses’) in relation to compliance with Anti-Money Laundering (‘AML’) and Countering the Financing of Terrorism (‘CFT’)... MoreClosed 15 April 2024 -
Travel Rule (Transfer of Virtual Assets) Code 2024
This Consultation Paper (‘the Paper’) is issued by the Isle of Man Financial Services Authority (‘the Authority’) in conjunction with the Department of Home Affairs (‘DHA’). The Authority is the regulatory body for financial services in the Isle of Man and the oversight body for Designated Businesses (‘Designated Business’) in relation to compliance with Anti-Money Laundering (‘AML’) and Countering the Financing of Terrorism (‘CFT’) obligations. The... MoreClosed 15 April 2024 -
CP24-03 Update to the Insurance Regulations and Insurance Special Purpose Vehicles Regulations
The purpose of the consultation is to obtain views in relation to the Authority’s proposals to update and integrate the Insurance Regulations 2021 with simplified elements of the Insurance (Special Purpose Vehicles) Regulations 2015 and Guidance Notes for Insurance Special Purpose Vehicles into a combined single document: the Insurance Regulations 2024. The consultation also includes additional proposals relating to fast-track authorisation, regulatory sandboxing and potential... MoreClosed 17 May 2024
62 results.
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