2026 will be an important year for the Isle of Man

New Year update from the Authority’s Chief Executive Officer

 

I would like to wish all our colleagues and stakeholders a very happy, healthy and successful New Year.

 

There can be little doubt that 2026 will be a crucial time for the Isle of Man, with the MONEYVAL onsite evaluation scheduled for late September/early October.

 

The Financial Services Authority is one of many government agencies working alongside the business community to ensure the Island is well placed to secure a positive outcome.

 

Collaboration is crucial if we are to enhance our reputation as a well-regulated jurisdiction that plays its part in international efforts to combat financial crime.

 

Delivering a consistent and compelling country narrative means everyone – industry, politicians, government departments and regulators – all singing from the same hymn sheet.

 

In that regard, I am pleased to report that significant progress is being achieved.

 

Our officers are working tirelessly alongside their public and private sector colleagues to meet the deadlines for the Island’s submissions to the MONEYVAL assessors.

 

Further preparations take place later this month with MONEYVAL Country Training sessions being held to provide an insight into the evaluation methodology, the sixth-round rules of procedure, and developments in FATF standards.

 

Additionally, the final steps are being taken to complete and syndicate the suite of sector and topic-based risk assessments that will feed into the overarching National Risk Assessment and inform the Financial Crime Strategy and All-Island Action Plan.

 

Engagement with industry is also being stepped up to raise awareness of the NRA findings and to assist Island firms in reflecting the identified risks within their own policies and procedures.

 

While the importance of the MONEYVAL evaluation to the Island’s financial wellbeing cannot be overstated, the Authority is already looking beyond 2026 to plan for future success.

 

We continue to explore ways to harness data and technology, modernise frameworks, and support national initiatives to foster a diverse, thriving and sustainable economy.

 

Businesses will always be best placed to stimulate innovation and develop new products and services within their own sectors. Our role is to create the right environment to help those ideas flourish.

 

So, please do not hesitate to contact the Authority to discuss where we can work together to take advantage of new opportunities to generate growth, investment and jobs.

 

Our door is always open. We strive to be an open and approachable regulator, listening to what businesses are telling us and using that feedback to find appropriate solutions to key issues while maintaining appropriate regulatory safeguards.

 

Across all aspects of our regulatory duties and functions, we remain focused on embedding a culture of continuous improvement. Our work is about supporting the financial services sector and protecting the Island’s cherished way of life for future generations.

 

By pulling in the same direction, we can showcase to the rest of the world that the Isle of Man is an outstanding place to do business.

 

American author Melody Beattie once wrote that: “The New Year stands before us, like a chapter in a book, waiting to be written.”

 

The Isle of Man has a fabulous story to tell.

 

As 2026 unfolds, let’s write a memorable next chapter together to ensure this wonderful Island continues to flourish.

 

Bettina Roth, CEO