New Credit Unions Legislation
Following approval by Tynwald in March 2019, the Authority has introduced a new regulatory regime for credit unions with effect from 1 April 2019.
Modernisation of the Credit Unions Act 1993 is accompanied by new legislation under the Financial Services Act 2008. The changes follow several public consultations on proposals for a tailored Isle of Man regime, culminating in this response published in February 2019.
The Authority’s Licensing Policy for Regulated Activities under the Financial Services Act 2008 has also been updated.