Increase in fees
Fees payable to the Isle of Man Financial Services Authority with effect from 1 April 2022 will increase by 20%, as set out in the news release issued on 2 December 2021.
This represents the next step in the transition towards a new funding model and is in line with the announcement made by Treasury in the 2020 Budget to reduce the level of financial support the Authority receives from the Isle of Man Government.
The 20% increase in fees follows a public consultation published last year and Tynwald approval of the related legislation.
The applicable fees legislation is as follows:-