Isle of Man reveals key commission disclosure details
The Isle of Man Financial Services Authority has revealed how insurers headquartered on the island will have to provide clients with information about commission and fees from 1 January 2019.
Isle Of Man
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The race for the Isle of Man’s new banking licence is on
Competition to become the first Isle of Man company to gain an Alternative Banking Regime (ABR) licence is hotting up and Capital International Group is optimistic about its chances.
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Isle of Man chief minister defends tax treatment
After bearing the brunt of media scrutiny over the Paradise Papers, Isle of Man chief minister Howard Quayle has said an internal review “found no evidence of wrongdoing”.
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Financial centres slam Paradise Papers backlash
The UK’s crown dependencies and overseas territories have hit back at international media scrutiny and allegations that they facilitate tax avoidance and evasion following the leak of the Paradise Papers.
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IoM pension firm launches cryptocurrency services
Isle of Man-based corporate and pension service provider Optimus is to offer crypto-currency, block chain and Initial Coin Offering (ICO) services.
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Isle of Man sets up specialist unit to combat cyber attacks
The Isle of Man is stepping up efforts to defend against cyber crime by establishing a specialist body to oversee cyber security and take responsibility for delivering the island’s National Cyber Security Strategy, due to be published by the end of the year.
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Isle of Man fights back against fraud
Legislation aimed at modernising measures to combat fraud will come into force on the Isle of Man from 1 November 2017.
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Key regulatory changes to keep an eye on
From the Isle of Man Financial Services Authority’s planned commission disclosure requirement to the Middle East Insurance Authority’s move to tighten capital requirements for licenced brokers, there is plenty of significant change happening on the regulatory front.
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Canada Life International targets wider market
The portfolio bonds from Canada Life International (CLI) have halved the minimum single and additional investment amounts and increased the maximum age of the youngest life assured by 10 years.
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Sales hit possible for IoM life cos when fee disclosure starts
Isle of Man life companies are already planning for a possible sales dip as major changes for IFAs are expected when worldwide commission disclosure is introduced in January 2019, a top industry player has warned.
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Utmost offers redemption option on Irish offshore bonds
Utmost Wealth Solutions has announced the launch of a capital redemption option for its range of Dublin-based offshore bonds.
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Clive Baker departs in shake up at Zurich Int’l Life
After five years as chief executive of Zurich International Life based on the Isle of Man, Clive Baker has “decided to move on to new opportunities”, the company has confirmed to International Adviser.