Isle Of Man
Disclosure is a benefit, ‘not an enemy’
Having avoided the high commission trap, Isle of Man-headquartered IOMA Group is well placed to thrive in the new world of fee disclosure and transparency, says managing director Chris Kenning.
IoM life industry discloses extent of commission complexity
When it comes to disclosing commission, Isle of Man-based life companies have revealed at least six different ways they pay intermediaries and asked the regulator to be clear on what it wants them to disclose, according to industry responses to a consultation paper.
IoM regulator confirms two commission disclosure deadlines
Life insurance companies on the Isle of Man must provide broad commission disclosure from 1 January 2018 and policyholder specific commission disclosure from 1 January 2019 under the proposed new Conduct of Business Code.
EU concerned over IoM’s ‘limited’ beneficial ownership data
EU officials have raised concerns over the Isle of Man’s beneficial ownership rules, revealing that limited data on the ultimate owners of companies registered to the island could make the crown dependency “vulnerable” to money laundering.
UK officials visit crown dependencies to discuss ‘Crexit’
A team of UK politicians have been touring the Channel Islands and the Isle of Man as part of a fact-finding mission to establish what effect Britain’s exit from the European Union will have on the crown dependencies.