Regulatory Alerts2008-01-01
Collective Investment Schemes Act 2008
The Isle of Man legislature enacted this Act to regulate collective investment schemes by replacing the Financial Supervision Act 1988. It restricts the establishment and promotion of schemes to authorized, international, exempt, or recognized categories while defining the legal criteria for such arrangements. The legislation empowers the Authority to oversee managers and administrators, enforce compliance through prohibitions and directions, and impose penalties for offenses.
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