Regulatory Alerts2017-09-08
Isle of Man Wealth and Fund Services Association Practice Note on Deferred Sales Charges
The Isle of Man Wealth and Fund Services Association issued this Practice Note to guide member firms on the use of Deferred Sales Charges in Isle of Man funds. The document requires fund managers, administrators, and directors to ensure adequate risk warnings and disclosures in marketing materials and offering documents to highlight potential inequities among investors. It further recommends implementing measures such as equalisation, series accounting, or low charge share classes to mitigate disadvantages for long-term shareholders.
Share