F.S.C News

Memorandum of Understanding between the FSC and IOM Treasury

F.S.C — Fri, 04 Jul 2008 00:00:00 GMT

The Treasury and the Financial Supervision Commission have signed the attached Memorandum of Understanding

Bogus website – http://investec-b.com

F.S.C — Fri, 04 Jul 2008 00:00:00 GMT

The Financial Supervision Commission has become aware of the above website which purports to represent the entity, Investec Bank International Limited.

Slides and Examples from Financial Resources Training Sessions

F.S.C — Tue, 01 Jul 2008 00:00:00 GMT

The slides and examples from the financial resources training sessions held on 24th June have been published today on the Commission’s website.

Financial Sanctions Update - 27th June 2008

F.S.C — Fri, 27 Jun 2008 00:00:00 GMT

The Commission has been notified that the Isle of Man Treasury, on 26th June 2008 published new and updated information regarding the above Sanctions regime.

Financial Sanctions Update 26th June 2008 - Iran

F.S.C — Thu, 26 Jun 2008 00:00:00 GMT

The Commission has been notified that the Isle of Man Treasury, on 25th June 2008 published new and updated information regarding the above Sanctions regimes.

The Financial Services Act 2008 and the Collective Investment Schemes Act 2008

F.S.C — Mon, 23 Jun 2008 00:00:00 GMT

The Financial Supervision Commission is pleased to announce that Royal Assent has been granted for two important new pieces of primary legislation.

Update to Public Warning on 18 March 2008 – Bogus Cheques

F.S.C — Thu, 19 Jun 2008 00:00:00 GMT

The Financial Supervision Commission has recently become aware of cheques, received by members of the public, falsely purporting to be drawn on the account of the genuine entity, Clerical Medical Investment Group Limited.

Financial Sanctions Update 18th June 2008 - Al-Qaida and Taliban

F.S.C — Wed, 18 Jun 2008 00:00:00 GMT

The Commission has been notified that the Isle of Man Treasury, on 12th June 2008, released information regarding updates to Al-Qaida and Taliban Sanctions.

Advance Fee Fraud - Mr Abeysinghe Sumindra

F.S.C — Fri, 13 Jun 2008 00:00:00 GMT

The Commission has recently become aware of e-mail correspondence which purportedly has been sent by a Mr Abeysinghe Sumindra. Mr Sumindra claims to be “Director Foreign Operations.

Bogus website - Mr Mohammed M. Hoque

F.S.C — Thu, 12 Jun 2008 00:00:00 GMT

The Financial Supervision Commission has become aware of the above website which purports that a Mr Mohammed M. Hoque has some association or connection with Mannin Chambers.

Company Officers Disqualification Bill - Summary of responses received by the Financial Supervision Commission to the consultation

F.S.C — Thu, 12 Jun 2008 00:00:00 GMT

Details of the comments received from industry in relation to the consultation on the Company Officers Disqualification Bill issued on 16th October 2007, together with the Commission’s response, have been published today.

Briefing document on the implementation of the new Financial Services Bill and associated secondary legislation

F.S.C — Mon, 09 Jun 2008 00:00:00 GMT

The document includes an invitation to comment on the prospective extension of the register of licenceholders to cover “nominee” companies. The Association of Corporate Service Providers, Association Licensed Banks and Fund Management Association have all indicated that they would be happy to receive comments from their members, so comments may be

FSC endorses the AIMA Offshore Alternative Fund Directors’ Guide

F.S.C. Handbooks — Mon, 09 Jun 2008 00:00:00 GMT

As part of its work to develop an appropriate regulatory regime for Isle of Man hedge and alternative investment funds, the Commission has published a Policy Statement which endorses and draws to licenceholders attention the Alterna

MOVEMENT IN ISLAND’S DEPOSIT BASE

F.S.C — Thu, 22 May 2008 00:00:00 GMT

Deposits (net of local inter-bank placings) with Isle of Man offices of Isle of Man banking licenceholders

Advance Fee Fraud - Roland Mantu, Chudy Morrison

F.S.C — Wed, 21 May 2008 00:00:00 GMT

The Commission has recently become aware of e-mail correspondence purportedly being sent by a Mr Chudy Morrison.

Declaration of Cash by Persons Entering or Leaving the Island

F.S.C — Mon, 19 May 2008 00:00:00 GMT

The European Communities (Cash Controls) (Application) Order 2008 and Cash Controls (Penalties) Regulations 2008

Financial Resources Training Sessions

F.S.C — Mon, 19 May 2008 00:00:00 GMT

The Commission invites licenceholders to attend one of the two free sessions which are designed to assist licenceholders in preparing financial returns under the Financial Services Act 2008. The sessions, which will require participation from the attendees, will commence at 9:15 am and 2:30 pm.

Amendments to Anti-Money Laundering Guidance Notes

F.S.C — Mon, 19 May 2008 00:00:00 GMT

The Criminal Justice (Money Laundering) (Amendment) Code 2008 which added Monaco to the list of equivalent jurisdictions at Schedule 2 of the Criminal Justice (Money Laundering) Code 2008 has been incorporated into the AMLGN at Appendix B(c). Subsequent changes have been made to Section 2.01 and 2.04 of the AMLGN to reference this new legislation.

Financial Sanctions Update 19th May 2008 - Iran

F.S.C — Mon, 19 May 2008 00:00:00 GMT

The Commission has been notified that the Isle of Man Treasury, on 16th May 2008 published new and updated information regarding the above Sanctions regime.

Corporate Finance - Dr Charles Burnham

F.S.C — Fri, 16 May 2008 00:00:00 GMT

The Commission has recently become aware of documentation purporting to have been sent by the above entity.