Find Consultations

  • 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. More
    Opened 3 April 2020
  • Regulatory Framework for General Insurance Intermediaries

    Enhanced requirements for general insurance intermediaries. More
    Closed 28 February 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... More
    Closed 14 February 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. More
    Closed 10 January 2020
  • 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... More
    Closed 3 January 2020
  • Financial Services (Amendments) Bill – Discussion Paper

    This discussion paper seeks views on amendments proposed to primary legislation via a Financial Services (Amendments) Bill. More
    Closed 31 October 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. More
    Closed 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. More
    Closed 13 September 2019
  • Credit Unions – Deferred Shares

    A proposal to make an Order that will permit credit unions to issue deferred shares. More
    Closed 27 May 2019
  • Anti-Money Laundering and Countering the Financing of Terrorism (Specified Non-Profit Organisations) Code

    This consultation sets out the proposed Anti-Money Laundering and Countering the Financing of Terrorism (Specified Non-Profit Organisations) Code. More
    Closed 27 March 2019
  • AML/CFT Framework

    The consultation sets out the proposed changes to the Island’s AML/CFT framework. The documents being consulted on are: the Anti-Money Laundering and Countering the Financing of Terrorism Code 2019; section 157 of the Proceeds of Crime Act 2008 and section 68 of... More
    Closed 27 March 2019
  • DP18-03/T18 - Public disclosure for authorised insurers

    This discussion paper looks at the prospective development of a regulatory framework in the Isle of Man for the disclosure of information about Isle of Man insurers to support their stakeholders (for example policyholders, lenders and creditors) in making relevant decisions about those... More
    Closed 28 February 2019
  • Corporate Governance Requirements for Insurance Intermediaries

    This consultation sets out proposed new requirements in the area of corporate governance for general insurance intermediaries. More
    Closed 31 January 2019
  • Group Supervision Consultation Paper

    This consultation sets out proposed requirements for insurance groups for which the Authority anticipates acting as Group Supervisor. More
    Closed 31 January 2019
  • Fees 2019

    The Isle of Man Financial Services Authority has issued Consultation CP18-09/T14 on proposed changes to fees payable to the Authority from 1 April 2019. More
    Closed 11 January 2019
  • Credit Unions: The New Regulatory Regime and Amendment to Loan Interest Rate

    The Isle of Man Financial Services Authority has today issued Consultation Paper CP18-06/T03 on the new regulatory regime for credit unions and amendment to the existing loan interest rate. More
    Closed 14 December 2018
  • The Draft Beneficial Ownership (Civil Penalties) Regulations 2018 For Contraventions Under The Beneficial Ownership Act 2017

    The Isle of Man Financial Services Authority has issued a consultation paper CP18-05/T17. This paper is 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... More
    Closed 2 November 2018
  • 5th Quantitative Impact Study for Non-Life Insurers

    The Isle of Man Financial Service Authority (“Authority”) has today issued a consultation paper, CP18-03/T04, which sets out the Authority’s current thinking in respect of the assessment of the capital adequacy of insurers and reinsurers undertaking non-life insurance business, including the... More
    Closed 31 October 2018
  • Possible expansion of Class 6 Regulated Activity (Crowdfunding Platforms)

    The Isle of Man Financial Services Authority has issued a consultation paper CP18-04/T16. This paper is seeking views on the possible expansion of Class 6 Regulated Activity (crowdfunding platforms) to include limited secondary trading facilities. The proposals may be of interest to all... More
    Closed 5 October 2018
  • Insurance Intermediation – exemptions from registration and cross border business

    Consultation Paper CP18-02/T08 sets out the Financial Services Authority’s proposals in relation to the current exemptions from registration as an insurance intermediary on the Isle of Man (‘IOM’) and the allowances for insurance intermediaries providing services on a cross border basis... More
    Closed 28 June 2018
  • Proposals to enhance the Island’s regulatory framework for private pensions and their providers

    The Isle of Man Financial Services Authority has today issued a Discussion Paper DP18-02/T15. This paper is seeking views on proposals to enhance the regulatory framework for pension schemes and pension providers. This Discussion Paper will be of particular interest to persons who act by way... More
    Closed 27 April 2018
  • Information on changes to fitness and propriety assessments for all regulated entities

    The Isle of Man Financial Services Authority has today issued a consultation paper CP18-01/T12. This paper is seeking views on changes to the process for the assessment of individuals’ fitness and propriety in respect of all regulated entities. The paper also includes a formal consultation on... More
    Closed 13 April 2018
  • Survey for businesses selling insurance alongside other goods and services

    This survey is for businesses that are not registered with the Financial Services Authority (FSA). Many businesses sell insurance alongside their principal goods or services (ancillary insurance). This activity is not currently regulated by the FSA because there is an exemption in legislation... More
    Closed 4 March 2018
  • Insurance (Long-Term Business Valuation and Solvency) Regulations 2018

    Consultation paper CP17-15/T12 sets out new valuation and solvency regulations for insurers authorised to carry on long-term insurance business. The Insurance (Long-Term Business Valuation and Solvency) Regulations 2018 will replace the Insurance (Valuation of Long Term Liabilities) Regulations... More
    Closed 16 February 2018
  • Insurance Regulations 2018

    Consultation paper CP17-14/T15 concerns new Insurance Regulations which will apply to all authorised insurers and permit holders. The Insurance Regulations 2018 will replace the Insurance Regulations 1986 and the Insurance (Supplementary Information) Regulations 2016. The main purpose of the... More
    Closed 16 February 2018
  • Conduct of Business Code for Non-Long Term Insurance

    CP17-11/T01 sets out the Authority’s views on developing the Island’s existing regulatory framework to enhance the fair treatment of policyholders in relation to non-long term insurers through the issue of the draft Insurance (Conduct of Business) (Non-long Term Insurance) Code 2017 (“the... More
    Closed 2 February 2018
  • Regulatory Fees 2018

    The Isle of Man Financial Services Authority has today published a Consultation Response (CR18-01/T14) following its recent consultation on proposed changes to regulatory fees from 1 April 2018. The response document provides a summary of responses to the consultation and outlines changes made... More
    Closed 5 January 2018
  • Group supervision

    The Isle of Man Financial Services Authority has today issued a consultation paper CP17-12/T13 in respect of proposed group supervision requirements for life insurance companies which belong to groups of which the Authority anticipates being the Group Supervisor. Although the paper is directly... More
    Closed 1 December 2017
  • Corporate Governance Code of Practice for Insurers

    The Isle of Man Financial Services Authority has today issued a consultation paper CP17-10/T11 in respect of the corporate governance of insurance companies. The paper sets out the Authority’s proposals to update its existing Corporate Governance Code of Practice for Regulated Insurance Entities... More
    Closed 17 November 2017
  • 4th Quantitative Impact Study for Non-Life Insurers

    The Isle of Man Financial Services Authority (“Authority”) has today issued a consultation paper, CP17-08/T09, which sets out the Authority’s current thinking in respect of the assessment of the capital adequacy of insurers and reinsurers undertaking non-life insurance business, including... More
    Closed 31 October 2017
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