Legislation & Guidance

This page contains legislation and guidance relevant to persons, entities and arrangements which are regulated under the following Acts:

It excludes Recognised Auditors, Designated Businesses and Funds

Legislation relating to the Anti-Money Laundering & Countering the Financing of Terrorism is applicable to all businesses undertaking regulated activities. Please click here to view this legislation.

Class 1 - Deposit Taking (DT)

Class 2 - Investment Business (IB)

Class 3 - Services to Collective Investment Schemes (CIS)

Class 4 - Corporate Services (CS)

Class 5 - Trust Services (TS)

Class 6 - Crowdfunding Platforms (CP)

Class 7 - Management or Administration to Licenceholders (MAL)

Class 8 - Money Transmission Services (MTS)

Professional Officers (PO)

 

Legislation DT IB CIS CS TS CP MAL MTS PO
Primary Legislation
                 
Financial Services Act 2008
Secondary Legislation
                 
Anti-Money Laundering and Countering the Financing of Terrorism Code 2015
Depositors’ Compensation Regulations 2010                
Financial Services Act 2008 (Appointed Day) Order 2008
Financial Services Act 2008 – Legislation
Financial Services (Appointment of a Manager) Order 2014    
Financial Services (Civil Penalties) Regulations 2015 ☑ 
Financial Services (Exemptions) Regulations (as amended 2013 and 2016) ☑ 
Financial Services (Fees) Order 2017 ☑ 
Financial Services Rule Book 2016
Tracked changes from 2013 to 2016 Rule Book
Financial Services Tribunal Rules 2015 ☑ 
Financial Supervision (Promotion of schemes other than Authorised and Recognised Schemes) (Exemption) Regulations 2010                
Regulated Activities Order (as amended 2016)
Transfer of Business Including Deposit-Taking Regulations 2013                

 

Class 1 - Deposit Taking (DT)

Class 2 - Investment Business (IB)

Class 3 - Services to Collective Investment Schemes (CIS)

Class 4 - Corporate Services (CS)

Class 5 - Trust Services (TS)

Class 6 - Crowdfunding Platforms (CP)

Class 7 - Management or Administration to Licenceholders (MAL)

Class 8 - Money Transmission Services (MTS)

Professional Officers (PO)

 

Title DT IB CIS CS TS CP MAL MTS PO
Advertising, Distribution and Promotion of Financial Products or Services Guidance ☑  ☑  ☑  ☑  ☑  ☑  ☑  ☑ 
Audit Exceptions   ☑  ☑  ☑  ☑  ☑  ☑  ☑   
Breaches ☑  ☑  ☑  ☑  ☑  ☑  ☑  ☑ 
Changes in ownership etc ☑  ☑  ☑  ☑  ☑  ☑  ☑   
CIS pricing errors (summary) CIS pricing errors (single page)     ☑             
Complaints ☑  ☑  ☑  ☑  ☑  ☑  ☑  ☑ 
Conflicts of Interest  
Conflicts of interest policy and related rules
Contents of a generic business plan  
Corporate Governance for Banks                
Corporate Governance for non-banks    
CPD guidance  
Credit Risk, Arrears & Provisions Management ☑                 
Deposit Advertising ☑                 
Directorships, trusteeships and similar responsibilities held by directors and key persons of licenceholders   ☑  ☑  ☑ 
Discretionary Civil Penalties
Fiduciary Deposits                
Financial Advisers - sales and advisory 'step-by-step' guidance                
Foreign Exchange Risk Management                
Forming a subsidiary or branch  
Guidelines on expected practice for TSPs              
Interest Rate Risk Management                
Internal Capital Adequacy Assessment Process (ICAAP)                
Large Exposures                
Limited Partnerships and Schemes            
Liquidity Risk Management                
Materiality of rule breaches
Operational Risk Management                
OTC Derivatives and Structured Deposits                
Outsourcing/Delegation of Powers  
Parent company financial statements    
Procedural Instructions for financial returns      
Proforma subordinated loan agreement      
Quarterly Prudential Returns                 
Qualifying Subordinated Loans      
Rule Book consent and notification summary table
Rule Book guidance
Rule Book obligations to keep registers
Rule Book obligations to maintain policies
Rule Book requirements for record keeping  
Sales of Higher Risk Investments to Retail Investors                
Staff disciplinary action  
Surrendering a financial services licence
The responsibilities and duties of directors under the laws of the Isle of Man

 

Life Insurance (LI)

Non-life insurance (including Captive Insurance) (NLI)

General Insurance Intermediaries (GII)

Protected Cell Companies / Incorporated Cell Companies (PCC / ICC)

Special Purpose Vehicles / Insurance Linked Securities (SPV / ILS)

 

Legislation LI NLI GII PCC/ICC SPV/ILS
Principal legislation
         
Insurance Act 2008
Incorporated Cell Companies Act 2010  
Protected Cell Companies Act 2004  
Secondary legislation
         
Anti-Money Laundering and Countering the Financing of Terrorism Code 2015
Corporate Governance Code of Practice for Regulated Insurance Entities    
Financial Services Review Regulations 2001
Incorporated Cells Regulations 2011

 
Insurance Act 2008 - Legislation
Insurance (Fees) Regulations 2017
Insurance (Incorporated Cell Companies) Regulations 2011  
Insurance (Limited Partnership) Regulations 2004      
Insurance (Limited Partnerships)(Solvency)(Amendment) Regulations 2011      
Insurance (Miscellaneous Amendments) Regulations 2015
Insurance (Protected Cell Companies) (Amendment) Regulations 2005  
Insurance (Protected Cell Companies) Regulations 2004 (as amended)  
Insurance (Solvency) (Amendment) Regulations 2011  
Insurance (Solvency) (Amendment) Regulations 2012  
Insurance (Special Purpose Vehicles) Regulations 2015    
Insurance (Supplementary Information) Regulations 2016  
Insurance (Transitional Provisions) (Amendment) Regulations 2015  
Insurance (Valuation of Long Term Liabilities) Regulations 2007    
Insurance Act (Appointed Day) (No.2) Order 2008    
Insurance Act 2008 (Appointed Day) (No.3) Order 2010    
Insurance Intermediaries (General Business) (Amendment) Regulations 2012      
Insurance Intermediaries (General Business) Regulations 1999 (as amended)      
Insurance Regulations 1986 ☑   
Life Insurance (Compensation of Policyholders) Regulations 1991        
Protected Cell Companies (Forms) Regulations 2004        

 

Life Insurance (LI)

Non-life insurance (including Captive Insurance) (NLI)

General Insurance Intermediaries (GII)

Protected Cell Companies / Incorporated Cell Companies (PCC / ICC)

Special Purpose Vehicles / Insurance Linked Securities (SPV/ILS)

Title LI  NLI  GII  PCC / ICC  SPV / ILS 
Cyber Security ☑   ☑ ☑  ☑  ☑ 
Guidance Notes for Insurance Business ☑  ☑  ☑  ☑  ☑ 
Guidance Notes for Insurance Special Purpose Vehicles        
Guidance Notes (Amendment) for Insurance Special Purpose Vehicles        

 

Domestic Authorised Schemes (DAS)

International Authorised Schemes (IAS)

Permitted Schemes (PS)

Recognised Schemes (RS)

 

Legislation DAS IAS RS PS
Primary Legislation
       
Retirement Benefits Schemes Act 2000
Secondary Legislation
       
Anti-Money Laundering and Countering the Financing of Terrorism Code 2015
Financial Services Review Regulations 2001        
Retirement Benefits Schemes Act 2000 (Appointed Day) (No. 1) Order 2001
Retirement Benefits Schemes Act 2000 (Appointed Day) (No. 2) Order 2001
Retirement Benefits Schemes Act 2000 (Appointed Day) (No. 3) Order 2004
Retirement Benefits Schemes Act 2000 - Legislation
Registered Schemes Administrators (Fees) Order 2017    
Registered Schemes Administrators (Fees) Regulations 2015 (as amended 2016)    
Retirement Benefits Schemes (Domestic Schemes) (General Administration) Regulations 2004      
Retirement Benefits Schemes (Excepted Schemes) Regulations 2001
Retirement Benefits Schemes (General Register) Regulations 2004
Retirement Benefits Schemes (Independent and Nominated Trustee Requirement) Regulations 2004    
Retirement Benefits Schemes (International Schemes) Regulations 2001      
Retirement Benefits Schemes (Management and Miscellaneous Provisions) Regulations 2001
Retirement Benefits Schemes (Miscellaneous Amendments) Regulations 2014
Retirement Benefits Schemes (Miscellaneous Amendments) Regulations 2015
Retirement Benefits Schemes (Permitted Schemes) Regulations 2004      
Retirement Benefits Schemes (Recognised Schemes) (Republic of Ireland) Order 2004      
Retirement Benefits Schemes (Recognised Schemes) (United Kingdom) Order 2004      
Retirement Benefits Schemes (Recognised Schemes) Regulations 2004      

 

Domestic Authorised Schemes (DAS)

International Authorised Schemes (IAS)

Permitted Schemes (PS)

Recognised Schemes (RS)

 

Title DAS  IAS  PS  RS 
Cyber Security  ☑  ☑  ☑  ☑