Upcoming regulatory registers thematic
The Isle of Man Financial Services Authority (“the Authority”) is planning a thematic review involving low impact firms supervised by the Portfolio Supervision Division.
The exercise is scheduled to begin the week commencing 12 August 2024 and will run to the end of October 2024. It will focus on firms’ compliance with certain elements of the Isle of Man Financial Services Rule Book 2016 (“the Rule Book”) and consists of two core phases:
Phase 1 – Data collection and analysis
Phase 2 – Predominantly desk-based thematic reviews
Firms selected for Phase 1 were notified on 24 July 2024.
Further assistance and guidance on the Rule Book are available on the Authority’s webpage.
The thematic review will enable the Authority to gain a better understanding of low impact firms, as they range in nature, scale and complexity.
A key part in achieving the Authority’s regulatory objectives is the oversight and supervisory functions, which includes undertaking supervisory inspections and thematic reviews. This will add to the Authority’s wider understanding and picture of risk.