Investment Business Handbook
Class 2 – Investment Businesses Handbook - Link to Register of licenceholders
The Investment Business handbook is produced to provide licenceholders under the Financial Services Act 2008 (those who are licensed by the Isle of Man Financial Services Authority (“the Authority”) to conduct investment business in or from the Isle of Man), potential licenceholders and other interested parties with easy access to the legislation and guidance relating to investment business activities in or from the Isle of Man.
The handbook is only produced in an on-line format. However, copies of all statutory documents (original, un-amended, legislation) may be obtained from the Tynwald Library, by quoting the SD number shown at the top of each document.
Please find links below to the Financial Services Act 2008, secondary legislation and relevant pieces of guidance.
Guidance (and where applicable other legislation) relating to other Classes of Regulated Activities may be found in handbooks relating to other licensable activities: Deposit taking, Collective Investment Schemes, Corporate Service Providers, Trust Service Providers, Money transmission, and Management and Administration services.
In case of any query, please contact the Funds & Investment Services team at the Authority, on +44 (0)1624 689329.
2.1 The Primary legislation governing investment business activities in or from the Isle of Man is the Financial Services Act 2008.
The following secondary legislation is made under powers contained in the Financial Services Act 2008. Where these regulations and regulatory codes have been amended after they were made, the “as amended” version is shown:
- Financial Services Act 2008 (Appointed Day) Order 2008,
- Regulated Activities Order 2011 (as amended 2013 and 2016),
- Financial Services (Exemptions) Regulations (as amended 2013 and 2016),
- Financial Services Rule Book 2016,
- Financial Services (Civil Penalties) Regulations 2015,
- Financial Services (Fees) Order 2017,
- Financial Services (Register of Permitted Persons) Regulations 2011,
- Financial Services (Appointment of a Manager) Order 2014
3. Guidance applicable to investment business activities
3.1 Guidance and forms which relate to investment business activities:
- Financial Advisers - sales and advisory 'step-by-step' guidance
- An Explanatory Guide About Financial Advice
- Application form for a Financial Services Licence
- Licenceholder contact sheet
- Forms and Returns Page
3.2 Guidance for investment business licenceholders dealing in OTC Derivatives and Structured Products
3.3 Disaster recovery/business continuity
The use of facilities on the Island by regulated businesses from other jurisdictions for temporary business continuity purposes is addressed by Schedule 2 of the Financial Services (Exemption) Regulations.
4. Guidance applicable to all licensable sectors/activities
Guidance on matters generic to all the Authority's licensable activities/ categories of business:
- Anti-Money Laundering Handbook and Countering the Financing of Terrorism Handbook
- Business plans - rule 8.11 and 9.13 guidance
- Corporate Governance
- Licensing Policy
- Materiality of rule breaches – rule 8.17 guidance
- Outsourcing/Delegation of function
- Key Person forms
- Responsibilities and Duties of Directors under the laws of the Isle of Man
- Rule Book consent and notification summary table
- Rule Book guidance
- Rule Book obligations to keep registers
- Rule Book obligations to maintain policies
- Proforma subordinated loan agreement (N.B. This proforma agreement has been prepared specifically for use by applicants for and holders of a financial services licence under the Financial Services Act 2008. If you are not an applicant or licenceholder, you should not copy, circulate or in any other way use or rely on the wording contained in the agreement. Applicants and licenceholders may copy the proforma but must not rely on the wording of the proforma and should take their own legal advice as to the appropriateness of the wording and the document in their own circumstances.)
- Supervisory approach
- Training & Competence