Isle of Man: consultation on changes to the Financial Services Act 2008

The Isle of Man's Financial Supervision Commission (FSC) has published a consultation paper - see here (pdf) - in which it sets out proposed changes to the Financial Services Act 2008 (here, pdf) and Collective Investment Schemes Act 2008 (here, pdf). Some of these changes are based on recommendations made by the International Monetary Fund, including adding to the FSA's statutory objectives (within Section 2 of the FSA 2008) the mitigation of systemic risk in the financial system.