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Isle of Man Government
Reiltys Ellan Vannin
Isle of Man Government Crest

O.F.T

Isle of Man Government Office of Fair Trading

Isle of Man Financial Services Authority's combined response to its third consultation

The Isle of Man Financial Services Authority has published a combined response to its third consultation on crowdfunding and the draft legislation and licence conditions for crowdfunding platforms; plus other non-crowdfunding related changes.

  1. Both equity crowdfunding and loan crowdfunding platforms to be covered by the Financial Services Ombudsman Scheme by giving added protection to individuals.
  2. Exempt anyone operating a crowdfunding platform from the requirement to register as a moneylender under the Moneylenders Act 1991.

No comments were received in relation to the secondary legislation to be made by the OFT. The consultation response can be found here.

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