Depositors’ Compensation Scheme Review
Feedback updated 4 Apr 2024
We asked
The Isle of Man Financial Services Authority invited feedback on proposals to update the Depositors’ Compensation Scheme framework and to introduce a Single Customer View mechanism.
You said
The Authority received 10 responses to the consultation paper, including views on the level of coverage for individual eligible depositors.
We did
We prepared a consultation response document, which provides a summary of the feedback submitted. The Authority will now prepare the Financial Services (Deposit Data) (Amendment) Rule Book 2024 for Tynwald approval. A draft Financial Services (Deposit Data) (Fees) Order will be subject to a separate consultation.
Overview
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.
Why your views matter
To seek views of affected parties on the proposals.
Areas
- All Areas
Audiences
- All residents
Interests
- Legislation
- Policies, strategies & plans
- Finance
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