An Isle of Man judge has ruled that the liquidator appointed to the collapsed Eco Resources Fund should be replaced despite objections from the island’s Financial Services Authority (IoMFSA).
The Isle of Man financial regulator is taking action against anti-money laundering and terrorist financing with new guidance rules aimed at “avoiding a tick-box approach” to assessing the risk of customer involvement in such activities.
Isle of Man treasury minister Alfred Cannan has confirmed that the island’s Financial Services Authority (IOMFSA) is “undertaking a review” of unregulated funds and will “make appropriate recommendations for change”.
The Isle of Man financial regulator is to crack down on collective investment funds by setting out “effective” guidance rules to “safeguard the reputation of the island”.
The Isle of Man insurance regulator, the Financial Services Authority (FSA), is soon to announce a new set of rules that will raise the bar on how international life business is conducted from the Isle of Man.
