Regulatory Fees 2018

Closed 5 Jan 2018

Opened 17 Nov 2017

Contact

Andrew Kniveton

(Policy Adviser )

+44 1624 689304

andrew.kniveton@iomfsa.im

Feedback updated 15 Oct 2019

We asked

We asked for views on proposed increases to regulatory fees for 2018.

You said

We received four responses, however no significant comments were raised in respect of the proposals apart from the impact of the rounding method on smaller regulated entities.

We did

We changed the rounding method to address the comments raised and the new fees came into operation on 1 April 2018.

Results updated 20 Mar 2018

Files:

Overview

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 and next steps. Subject to Treasury concurrence and consideration by Tynwald, the following legislation will commence on 1 April 2018:

  1. Collective Investment Schemes (Fees) Order 2018
  2. Financial Services (Fees) Order 2018
  3. Insurance (Fees) Regulations 2018
  4. Registered Schemes Administrators (Fees) Order 2018

The consultation response is relevant to all persons that are licensed, authorised or registered under the Financial Services Act 2008, Insurance Act 2008, Retirement Benefits Schemes Act 2000 or that have responsibility for collective investment schemes under the Collective Investment Schemes Act 2008. It is also relevant to advisers to those persons, or potential applicants for those permissions or their advisers.

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