Depositors’ Compensation Scheme Review

Closed 21 Jan 2024

Opened 24 Nov 2023

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.

Results updated 4 Apr 2024



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.


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