Regulatory Alerts2018-02-23
Guidance Note on Managed Accounts
The Isle of Man Financial Services Authority issued this guidance to define managed accounts as personalized investment portfolios and outline the regulatory framework for their administration. The document specifies that such activities fall under Class 2 Investment Business, requiring specific license subclasses depending on whether the service is discretionary, advisory, or model-based. Applicants must demonstrate adequate competence, systems, and controls through a detailed business plan to comply with the Authority's licensing and financial resources requirements.
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