Call for Input - Family Office type services (CI24-01)

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Closes 26 Jun 2024

Glossary

This Glossary will be available on every page should you wish to refer back to it. It will be within a dropdown titled 'Glossary' at the end of each section.

  • AML: Anti-Money Laundering
     
  • Authority: Isle of Man Financial Services Authority
     
  • CfI: Call for Input
     
  • CFT: Countering the Financing of Terrorism – includes countering the financing of proliferation and is to be construed in accordance with the definitions of 'financing', 'terrorism' and 'proliferation' in section 3 of the Terrorism and Other Crime (Financial Restrictions) Act 2014
     
  • Designated Business: a person that is registered by the Isle of Man Financial Services Authority to undertake designated business listed in Schedule 1 to the Designated Businesses (Registration and Oversight) Act 2015
     
  • Engagement Hub: Isle of Man Government’s Engagement Hub
     
  • Family Office: A Legal Arrangement or Legal Person that provides wealth management provisions for ultra-high-net-worth Families
     
  • FSA08: Financial Services Act 2008
     
  • NRA: National Risk Assessment 
     
  • AML/CFT Code: Anti-Money Laundering and Countering the Financing of Terrorism Code 2019
     
  • MONEYVAL: MONEYVAL – monitoring body of the Council of Europe