IOMFSA - Isle of Man Financial Services Authority

07/10/2024 | Press release | Distributed by Public on 07/10/2024 02:17

Authority seeks to raise awareness of future activities (Press Release)

Authority seeks to raise awareness of future activities

Published on: 10 July 2024

The Isle of Man Financial Services Authority has published a calendar to highlight the dates of its outreach and engagement for the months ahead.

The 'at-a-glance' timetable for 2024/25 offers a snapshot of the regulator's forthcoming data requests, thematic reviews, inspections, events, consultations, and reports.

The intention is to keep Island firms and other stakeholders informed of developments by providing advance notice of the Authority's key milestones where possible.

It is hoped that publishing the calendar online and updating it on a regular basis will assist firms with their forward planning, particularly in relation to anticipated demands on compliance functions.

In addition to a high-level overview of its activities, the Authority is also compiling a more detailed breakdown of requirements in relation to data returns by class of licence. Further details will be provided in due course.

Bettina Roth, Chief Executive Officer, said: 'We continue to work closely with industry and are seeking to help firms by providing even more visibility of what we have coming down the tracks. The Authority will be stepping up its engagement in the time ahead, as well as requesting more information from certain firms and sectors in line with our data-driven approach to supervision.'

She added: 'By publishing a rolling calendar of our activities, we hope to raise awareness of when we will be reaching out to stakeholders for data that supports our efforts to protect consumers, reduce financial crime, and maintain confidence in the finance sector.'