Class 7 - Management or Administration

A licence to carry on the Class 7 regulated activity of Management or Administration Services permits a business operating in or from the Isle of Man (within certain criteria and with specified exclusions) to provide management or administration services in respect of a regulated activity (other than one falling within Class 3) to a person licensed to carry on that activity.

Full details of regulated activities, exclusions and exemptions from licensing may be found in the Management or Administration Services handbook. A licenceholder is obliged to comply with any licence conditions that have been imposed by the Isle of Man Financial Services Authority (“the Authority”) and which are shown on the licence.

The Management or Administration Services handbook also contains links to other legislation relating to licenceholders, including the Financial Services Rule Book which contains the detailed rules to be complied with by all licenceholders. Guidance on rules and on other regulatory matters may also be found in the handbook.

The Authority’s Licensing Policy for Regulated Activities under the Financial Services Act 2008 (“licensing policy”) applies to all licence applicants and licenceholders. Section 2.9 of the licensing policy addresses when a Class 7 licence is likely to be necessary and the responsibilities of the parties concerned.

Licenceholders should also note the requirements of anti money laundering legislation and handbook.