Regulatory Alerts2015-01-01
Collective Investment Schemes (Recognised Schemes) Regulations 2015
The Isle of Man Financial Services Authority issued these Regulations to consolidate and replace previous rules governing the recognition and operation of collective investment schemes in the Isle of Man. The regulations establish specific requirements for the preparation, content, and publication of Isle of Man offering documents, while mandating that governing bodies maintain local facilities for the public, participants, and complaints. Additionally, the rules define joint and several liability for managers and governing bodies regarding false or misleading statements in offering documents, subject to specific statutory exemptions.
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