Driving continuous improvement
The Authority’s Strategic Plan for 2021-24 sets out our roadmap to drive continuous improvement in the Isle of Man’s regulatory environment.
The plan highlights the goals and priorities that guide our efforts to protect consumers, reduce financial crime and uphold confidence in the financial services sector.
The emphasis is on delivering outcomes that enhance the Island’s reputation as a well-regulated jurisdiction with a long-standing policy of compliance with international standards.
As part of our longer-term planning, we are focused on delivering four strategic goals:
- Continuing to review and enhance frameworks so that:
- users of financial services are appropriately protected and can make informed decisions
- financial crime is effectively deterred
- Ensuring the effectiveness of our regulatory, supervisory and enforcement approaches
- Working in partnership with stakeholders to embrace innovation within a dynamic, appropriately regulated, international financial sector
- Preserving our independence and building our resilience, while remaining accountable and transparent.
The Strategic Plan provides further information about these goals, as well as setting out what stakeholders can expect to see in respect of the Authority’s six strategic priorities:
- Authority Funding Model
- Supervisory methodology
- Data management and analytics
- Maintaining and updating our framework
- Crisis management
- Updated approach to AML