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REGUL AT ION
AND SUPERVISION
AUTHOR I SAT IONS
Applications for authorisation or registration under
the IA2008 or the RBSA2000 are made in writing by
the applicant to the Authority; and those for a
licence under the FSA08 are made using an
application form.
As part of its authorisation process the Authority
seeks to ensure that those entering the financial
sector meet the required minimum standards
expected of an Isle of Man regulated entity in order
to protect the reputation of the Island as a reputable
and responsible financial centre.
Applications from new businesses are considered by
authorisations staff, in close liaison with appropriate
supervisory staff responsible for the relevant
sector(s). In all cases staff work closely with the
applicant, and meetings take place and additional
information is obtained until such times as either a
positive or negative recommendation can be made
to the Board of the Authority in respect of the
application.
13 • Isle of Man Financial Services Authority Annual Report 2016/17