Financial Services (Amendment) Rule Book 2018 approved
The Financial Services (Amendment) Rule Book 2018 was approved by Tynwald on 18 July 2018 and comes into effect on 1 August 2018. The Amendment Rule Book makes limited changes to the Financial Services Rule Book 2016 primarily in relation to the new fitness and propriety assessment process which commences on 1 August 2018.
The updated version of the Financial Services Rule Book 2016 can be found on the Legislation & Guidance webpage on the Authority’s website.
Regulated entities must use the new fitness and propriety assessment forms and processes with effect from 1 August 2018. The Authority’s website will be updated on that day and the old forms will be removed.
This press release is relevant to all persons that are licensed, authorised or registered under the Financial Services Act 2008, Insurance Act 2008, Retirement Benefits Schemes Act 2000 or that have responsibility for collective investment schemes under the Collective Investment Schemes Act 2008.