Regulatory Alerts2008-01-01
Authorised Collective Investment Schemes (Compensation) Regulations 2008
The Isle of Man Financial Services Authority administers the Collective Investment Schemes Compensation Scheme to compensate investors when authorised scheme managers, trustees, or custodians default on their civil liabilities. The regulations define default triggers, establish the Compensation Fund financed by participant levies, and set specific limits on compensation payouts based on liability amounts. The framework also outlines eligibility criteria, excluding professional and certain business investors, and mandates annual declarations from participants to calculate contribution levies.
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