Regulatory Alerts2023-01-01
Bank (Recovery and Resolution) Administrative Levy Order 2023
The Isle of Man Financial Services Authority issued this Order under the Bank (Recovery and Resolution) Act 2020 to impose administrative levies on regulated banks. The Order requires all banks with a licence in force on 31 March 2023 to pay a fixed levy of £12,338 for the Authority's administrative operations covering the period from 1 April 2022 to 31 March 2023. Payment must be made to the Authority's specified account before 31 October 2023, with the Order coming into operation on 31 July 2023.
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