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Fiduciaries (Corporate and Trust Service Providers) On-line Handbook

Contents

section 1	THE REGULATORY STRUCTURE FOR FIDUCIARIES
	1.1	The General Strategy for Licensing and Regulating Fiduciaries
	1.2	Legislative Framework
	1.3	Categories of Fiduciary Licence
	1.4	Illegal to operate without a licence and transitional arrangements
	1.5	Definition - Fiduciary
	1.6	Fiduciary Services Regulatory Codes
	1.7	Definition – Regulated Activities
	1.8	Definition – Exemptions
	1.9	Definition – Enforcement Action
	1.10	Exemption for Disaster Recovery Operations

section 2	GENERAL LICENSING POLICY FOR THOSE SEEKING A FIDUCIARY LICENCE Guidance Notes on Licensing Policy for Fiduciaries
	2.1	Fit and Proper
	2.2	General Licensing Policy and Specific Requirements for Fiduciary Licenceholders
	2.3	Review Process

section 3	ONGOING REGULATORY REQUIREMENTS FOR FIDUCIARY BUSINESSES
	3.1	Classes and categories of licence
	3.2	Licence Conditions
	3.3	Definition - Regulatory Codes
	3.4	Application of the Codes to the Business of Fiduciaries
	3.5	The General Requirements Code
	3.6	The Clients' Money Code

section 4	APPLICATION FOR AND RENEWAL OF A FIDUCIARY (CSP OR TSP) LICENCE
	4.1	Licence Applications
	4.2	Renewal of CSP and TSP Licences and Payment of Licence Fees

section 5	GUIDANCE NOTE ON THE RESPONSIBILITIES AND DUTIES OF DIRECTORS UNDER THE LAWS OF THE ISLE OF MAN
	5.1	Introduction
	5.2	Who is a Director? How a Director is appointed to office and how he ceases to be a Director.
	5.3	Duties of Directors
	5.4	Powers of Directors
	5.5	Knowledge of the Legal Framework
	5.6	Liabilities - Criminal and Civil
	5.7	Administration and Accounts
	5.8	Board Meetings
	5.9	Good Corporate Governance

section 6	E-COMMERCE AND REGULATION IN THE FINANCE SECTOR

section 7	Fees
	71	Application Fee
	72	Annual Fees

Appendicies

Appendix A	Fitness and propriety criteria
	A1	General Licensing Policy for those seeking a Banking, Investment Business or Fiduciary Licence
	A2	Corporate Service Providers ("Not fit and proper") Regulations 2005

Appendix B	Fiduciary Services Acts 2000 and 2005
	B1	Corporate Service Providers Act 2000 (as amended)
	B2	Fiduciary Services Act 2005

Appendix C	Fiduciary Services Act 2000 and 2005 - Appointed Day Orders
	C1	Corporate Service Providers Act 2000 (Appointed Day) (No 1) Order 2000
	C2	Corporate Service Providers Act 2000 (Appointed Day) (No2) Order 2001
	C3	Fiduciary Services Act 2005 (Appointed Day) Order 2005

Appendix D	Fiduciary Services Acts 2000 and 2005 - Exemptions Regulations
	D1	Corporate Service Providers (Exemptions) Regulations 2001
	D2	Corporate Service Providers (Exemptions) Regulations 2002
	D3	Fiduciary Services (Exemption) (Temporary Business Continuity Operations) Regulations 2006
	D4	Fiduciary Services (Exemptions) Regulations 2005
	D5	Fiduciary Services (Exemptions) Regulations 2006

Appendix E	Fiduciary Services Regulatory Codes
	E1	Fiduciary Services (General Requirements) Regulatory Code 2005
	E2	Fiduciary Services (Clients’ Money and Trust Money) Regulatory Code 2005
	E3	Fiduciary Services (Civil Penalties) Regulations 2006
	E4	Guidance Notes for Corporate Service Providers re Services provided to companies registered under the Companies Act 2006
	E5	Financial Services Review Regulations

Appendix F	Fiduciary Services (Fees) Regulations
	F1	Fiduciary Services (Fees) Regulations 2007

Appendix G	Fiduciary Services (Register) Regulations
	G1	Fiduciary Services (Register) Regulations 2005

Appendix H	Application Forms, Personal Questionnaire and Banking Questionnaire
	H1	Application Form for a Corporate or Trust Service Providers Licence (form for Corporate Bodies)
	H2	Application Form for a Corporate or Trust Service Providers Licence (form for Category 2 CSP or TSP only)
	H3	Personal Questionnaire
	H4	Bankers’ Questionnaire
	H5	Personal Declaration
	H6	Annual Compliance Return - Form for Category 1 Licenceholders
	H7	Annual Compliance Return - Form for Category 2 Licenceholders
	H8	Licenceholder Contact details form

Appendix I	Guidance To Licenceholders and Potential Licenceholders Regarding Internet / E-Business Developments
	I1	Guidance To Licenceholders and Potential Licenceholders Regarding Internet / E-Business Developments

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