Revised fees legislation to come into effect on 1 April 2017

The Financial Services Authority has today published a summary of responses to its consultation on fees payable by all persons that hold permissions under the Financial Services Act 2008, Insurance Act 2008, Retirement Benefit Schemes Act 2000 or that have responsibility for funds/schemes under the Collective Investment Schemes Act 2008, which ran from 25 November 2016 to 6 January 2017. This consultation response document advises that there were no changes made to the fee levels proposed in the consultation.

The various Fees Orders and Regulations necessary to implement these changes were submitted to the March 2017 sitting of Tynwald and will come into operation in 1 April 2017.