Becoming a Regulated Entity

The FSC is an independent statutory body responsible for the licensing and supervision of banks, building societies, investment businesses, collective investment schemes, corporate service providers and trust service providers in the Isle of Man.

The Authorisations team is responsible on a day-to-day basis for the initial processing of licence applications for all regulated activities and the vetting of all individuals who need to satisfy the Commission they are fit and proper for their proposed roles.

This process involves a thorough evaluation of the applicant’s business and all key individuals connected with it to ensure the applicant and all connected individuals (Key Persons) meet the Commission’s ‘fit & proper’ test in the three key areas of Integrity, Competence and Solvency.

This evaluation will be carried out in accordance with the Commission’s Licensing policy. The Licensing Policy is supported by the Training and Competency framework.

The application will be processed in accordance with the Commission’s Licensing Procedure.

To find out more about the Authorisations team please click below:

http://www.fsc.gov.im/about/structure/companies.xml

http://www.fsc.gov.im/lib/docs/fsc/structurechart.pdf