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Updates to the AML Guidance Note

The AML Guidance note was updated recently to reflect changes. The guide is a very good work on the matter. It contains many informations including forms, original texts.... It provides relevant advice.

See updated guide

06:53 Posted in Isle of Man | Permalink | Comments (0)


Transparence on sanctions

The Financial Supervision Commission expects the highest standards of conduct from those involved in the corporate governance of companies. Where a person through their conduct is considered potentially unfit to carry out such a role, the Commission may petition the High Court of Justice of the Isle of Man under Section 26 of the Companies Act 1992 seeking disqualification of that person from acting as:
- a director of a company; or
- a secretary of a company; or
- a liquidator of a company; or
- a receiver or manager of a company's property; or
in any way, whether directly or indirectly, being concerned or taking part in the promotion, formation or management of a company unless that person has the consent of the Court.

Details of disqualified directors are available on the website.

View the disqualified directors page

14:45 Posted in Isle of Man | Permalink | Comments (0)


FSC rejects US Senate's 'Tax Haven" attack

The Isle of Man was targetted by US Senate subcommittee report (see article "Tax Haven Abuses: The Enablers, The Tools & Secrecy (US Senate hearing)").

A spokesman for the Financial Supervision Commission (FSC), said: "'Any financial institution doing any business in the Island is required to understand the nature of the transaction being done and also has to ensure that the transaction is not deliberately breaking the laws of another country. We do not tolerate misuse of the financial system in any circumstance".

Know more

16:50 Posted in Isle of Man | Permalink | Comments (0)