Isle of Man Government Crest

F.S.C. Handbooks

Search this handbook

Updates to this handbook

Printable version of this handbook

Investment Business On-line Handbook

Contents

section 1	REGULATORY STRUCTURE FOR INVESTMENT BUSINESSES - INVESTMENT BUSINESS ACTS 1991 TO 1993
	1.1	The General Strategy for licensing and regulating Investment Businesses
	1.2	Legislative Framework
	1.3	Definition - General Interpretation
	1.4	Definition - Dealing in Investments
	1.5	Definition - Arranging Deals in Investments
	1.6	Definition - Managing Investments
	1.7	Definition - Investment Advice
	1.8	Definition - Managing etc. Collective Investment Schemes
	1.9	Excluded Activities
	1.10	Exemptions

section 2	GENERAL LICENSING POLICY FOR THOSE SEEKING AN INVESTMENT BUSINESS LICENCE
	2.1	The Commission's Fit & Proper Test
	2.2	General Licensing Policy and Specific Requirements for Investment Business Licenceholders
	2.3	Exemption for Disaster Recovery Operations

section 3	ONGOING REGULATORY REQUIREMENTS FOR INVESTMENT BUSINESSES
	3.1	Licence Conditions
	3.2	Regulatory Codes
		3.2.1	Regulatory Codes ("the Codes")
		3.2.2	Financial Resources and Compliance Reporting
		3.2.3	Clients' Money
		3.2.4	Clients' Investments
		3.2.5	Conduct of Business
		3.2.6	Audit Requirements
		3.2.7	General Requirements
		3.2.8	Advertising
	3.3	Know Your Customer
	3.4	Compliance Procedures
	3.5	Supervisory and Focused Visits

section 4	APPLICATION FOR AND RENEWAL OF INVESTMENT BUSINESS LICENCES
	4.1	Licence Applications
		4.1.1	Consultation with Officers of the Commission
		4.1.2	Consideration of the Application by the Commission
		4.1.3	Appeals Process
		4.1.4	Issue of Licence
	4.2	Renewal of Investment Business Licences and payment of Licence Fees

section 5	E-COMMERCE AND REGULATION IN THE FINANCE SECTOR

section 6	FEES

Appendicies

Appendix A
	A	The Investment Business Act 1991 (as amended)

Appendix B
	B	The Investment Business Order 2004

Appendix C	Regulatory Codes relating to:-
	C1	Financial Resources and Compliance Reporting Code
	C2	Clients' Money
	C3	Clients' Investments
	C4	Conduct of Business
	C5	Audit Requirements
	C6	General Requirements
	C7	Advertising
	C8	Financial Supervision Commission (Stockbrokers) (No 2) Regulatory Code 2003

Appendix D	General Orders and Regulations
	D1	Investment Business (Clients' Money) Regulations 1996
	D2	Financial Supervision (Promotion of Unregulated Schemes) (Exemption) Regulations 1992
	D3	Financial Supervision (Authorised Persons) Regulations 1992
	D4	Investment Business (Recognised Persons) (Revocations) Regulations 2002
	D5	Investment Business (Indemnity) (Designated Recognised Regulators) (Revocation) Order 2002
	D6	Investment Business ("Not fit and proper") Regulations 2005
	D7	Investment Business (Civil Penalties) Regulations 2006
	D8	Financial Services Review Regulations

Appendix E	Orders and Regulations granting exemption to certain classes of person (see also Appendix I)
	E1	Investment Business (Exemption) (Banks and Building Societies) Regulations 1992
	E2	Investment Business (Exemption) (Miscellaneous) Regulations 2001
	E3	Investment Business (Exemption) (Certificates of Deposit) Regulations 1992
	E4	Investment Business (Exemption) (Fund Managers) Regulations 2005
	E5	Investment Business (Exemption) (Group Pension Schemes) Regulations 1996
	E6	Investment Business (Exemption) (Temporary Business Continuity Operations) Regulations 2006

Appendix F	Application Forms for Investment Business Licences:-
	F1	Corporate Bodies (Categories 1, 2 and 3 only)

Appendix G	Personal Questionnaire for Directors/Controllers/Managers and Company Secretaries of Institutions Engaged in Banking or Investment Business
	G1	Personal Questionnaire
	G2	Bankers' Questionnaire
	G3	Proforma Letter Sent To All Recommended 4-Eyes
	G4	Licenceholder Contact details form

Appendix H	Guidance To Licenceholders and Potential Licenceholders Regarding Internet / E-Business Developments

Appendix I	Fees
	I1	Investment Business (Fees) Regulation 2007

Appendix J	Licensing Policy
	J1	General Licensing Policy for those seeking a Banking, Investment Business or Fiduciary Serices Licence

Appendix K	Financial and Compliance Returns
	K1	Annual Financial Declaration - Associated Asset Manager
	K2	Financial Resources Statement
	K3	Annual Financial Declaration
	K4	Compliance Statement

DisabledGo Information

Download BrowseAloud

Terms & Conditions

©2008 Isle of Man Government