Consultation Response - Draft Beneficial Ownership (Civil Penalties) Regulations 2018

The Isle of Man Financial Services Authority has today published a Consultation Response (CP18-05/T17) following its consultation on the draft Beneficial Ownership (Civil Penalties) Regulations 2018 for contraventions under the Beneficial Ownership Act 2017.

Subject to Tynwald approval, the Beneficial Ownership (Civil Penalties) Regulations 2018 are expected to come into effect on 1 February 2019.

The consultation response will be of particular interest to relevant persons under the Beneficial Ownership Act, especially nominated officers.