Regulatory Alerts2025-12-11
Regulatory Guidance – Fitness and Propriety
The Isle of Man Financial Services Authority issues this guidance to define the criteria and processes for assessing the fitness and propriety of individuals holding Controlled Functions within regulated entities. It mandates that regulated entities conduct thorough due diligence and submit specific forms to the Authority, distinguishing between notification-only roles and those requiring prior acceptance. The framework emphasizes integrity, financial standing, and competence to protect customers and maintain the jurisdiction's reputation against financial crime.
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