Firms encouraged to take part in Authority survey

The Isle of Man Financial Services Authority has commissioned an independent survey to gather feedback from the firms it regulates or oversees.

The findings will enable the Authority to better understand the needs of the Island’s finance industry, with a view to shaping its strategic priorities and enhancing its relationship with stakeholders.

Island Global Research, a market research and consultancy company, will this week send a covering letter and link to the online questionnaire to all regulated entities and designated businesses in the Island.

IGR carried out a similar exercise in 2018 when feedback helped to identify common themes being experienced within the financial services sector.

The 2023 survey builds on the Authority’s commitment to delivering a responsive and effective regulatory service that is not only fit for purpose, but also supports the Island’s positive international reputation.

Bettina Roth, Chief Executive Officer at the Authority, said: ‘As an open and transparent regulator, we always pay close attention to what firms are telling us about the issues impacting their businesses. With that in mind, we have commissioned Island Global Research to conduct an independent survey of our stakeholders.’

She added: ‘This is an opportunity to provide confidential feedback about the effectiveness of the Authority in the delivery of its functions. We want to hear from firms about their engagement with the Authority, what is working well, and where they feel we can do better. Responses to the survey will play a crucial part in shaping our future plans and assist us to enhance our performance, which will ultimately benefit firms and consumers. Our focus is on supporting a vibrant, diverse and well-regulated financial services sector in line with the Island’s Economic Strategy.’

The closing date for responses is Friday 3 March 2023. Only Island Global Research will have access to the online submissions and the company will ensure that individual responses remain confidential. As part of the Authority’s ongoing commitment to transparency and accountability, the final report will be made public later this year.