Alternative Banking Regime – consultation on new types of Class 1 licences

The Isle of Man Financial Services Authority has today issued a public consultation on detailed proposals to create three separate types of Class 1 (deposit taking) licence. This consultation follows the discussion paper that was issued in January 2016 and includes a summary of comments received on the previous paper. The consultation document also includes the draft legislation that will bring the regime into operation.

Comments are welcome until 14 May 2016.

Susan Woolard (Mrs) – Adviser – Policy & Legal Division
Isle of Man Financial Services Authority
Tel: +44 (0)1624 689333