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Business Code delay done to help life cos, IoM’s Pickering says

Implementation of commission disclosure pushed back to give firms ‘breathing space’


The head of insurance and pensions at Department for Enterprise for the Isle of Man Government, Simon Pickering, spoke exclusively to International Adviser about the recent launch of the Financial Services Authority’s (IOMFSA) new Code of Business Conduct.

The IOMFSA has delayed implementing key parts of the Insurance (Conduct of Business) (Long Term Business) Code 2018, as reported on Wednesday.

Pickering spoke about the reasons for the delay, what the code is looking to bring to the Isle of Man’s (IOM) life sector and what it does for IOM’s position as an international finance centre. Click on the video above to see more.

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