Regulatory Alerts2017-03-30
Isle of Man Financial Services Authority Guidance Note for Deposit Takers on Deposit Advertising
The Isle of Man Financial Services Authority issued this guidance to regulate deposit advertising by Class 1(1), 1(2), and 1(3) licensees. It mandates that all advertisements be clear, not misleading, and include specific disclosures regarding interest rates, currency, withdrawal restrictions, and risk warnings. The document also imposes strict requirements on foreign entities advertising within the Isle of Man to prevent implications of local licensing or deposit protection scheme coverage.
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