Regulatory Alerts2017-04-07
Guidance on Winding Up an Authorised Scheme
The Isle of Man Financial Services Authority issued this guidance to regulate the winding up of Authorised Schemes in compliance with the Authorised Collective Investment Schemes Regulations 2010. It requires fund managers and fiduciary custodians to submit specific information, including scheme size, reasons for termination, and feasibility assessments for alternative arrangements, to facilitate efficient decision-making. The document clarifies that while the guidance is not law, following its recommendations serves as strong evidence of compliance with legislative provisions.
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