The Isle of Man Treasury has confirmed that changes will be made to the structure of the Island’s Financial Services Commission, and that proposals are expected to be brought to the Tynwald before the summer recess.
One of the biggest changes to come from these reforms is likely to be the replacement of a political figure as chairman of the Financial Services Commission, which would bring the Isle of Man into line with other offshore jurisdictions and with the conclusions of the 1998 Edwards report on the British dependent territories.
The move was confirmed by Donald Gelling in the Legislative Council recently, whilst responding to a question from member Eddie Lowey.
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