Regulatory Alerts2015-01-01
Designated Businesses (Amendment) Order 2024
The Isle of Man Financial Services Authority issued the Designated Businesses (Amendment) Order 2024 to substitute Schedule 1 of the Designated Businesses (Registration and Oversight) Act 2015. The Order expands and clarifies the definitions of designated businesses, including virtual asset service providers and non-profit organisations, while updating exemptions for regulated entities. These changes align the Isle of Man's regulatory framework with amendments made to the Proceeds of Crime Act 2008 regarding business in the regulated sector.
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