Regulatory Alerts2019-06-13
MSB Notification Form for De Minimis Turnover Exemption
The Isle of Man Financial Services Authority requires businesses providing money transmission services with an annual turnover below £50,000 to submit this notification form instead of applying for a full license. Applicants must declare their business details, specify the types of money transmission activities undertaken, and confirm compliance with the Anti-Money Laundering and Countering the Financing of Terrorism Code 2015. This notification must be completed and returned to the Authority before commencing any money transmission services to qualify for the regulatory exemption.
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