Alternative Banking Regime – consultation on new types of Class 1 licences

The Isle of Man Financial Services Authority has today issued a public consultation on detailed proposals to create three separate types of Class 1 (deposit taking) licence. This consultation follows the discussion paper that was issued in January 2016 and includes a summary of comments received on the previous paper. The consultation document also includes the draft legislation that will bring the regime into operation.

Comments are welcome until 14 May 2016.