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APPENDIX A
The functions of the Authority are set out in paragraph 2 of Schedule 1
of the Financial Services Act 2008 and are as follows:
•
the regulation and supervision of persons undertaking regulated activities
•
the regulation and supervision of persons undertaking regulated insurance activities or
regulated pensions activities
•
the maintenance and development of the regulatory regime for regulated insurance activities
and regulated pensions activities
•
the maintenance and development of the regulatory regime for regulated activities
•
the conduct of investigations into any potential liability arising from breach of AML/CFT
legislation by persons undertaking regulated activities
•
the oversight of directors and persons responsible for the management, administration or
affairs of commercial entities
•
participation in consultative bodies, working groups and other arrangements
•
the functions conferred on it under the Financial Services Act 2008
•
the regulation and supervision of collective investment schemes within the meaning of the
Collective Investment Schemes Act 2008
•
the regulation and supervision of retirement benefits schemes within the meaning of the
Retirement Benefits Schemes Act 2000
•
the functions conferred on it under the Acts specified below, and
•
the functions conferred on it under any other statutory provision
I SLE OF MAN F INANCIAL SERVICES
AUTHOR I TY ’ S FUNCT IONS
32 • Isle of Man Financial Services Authority Annual Report 2016/17