The Isle of Man Financial Supervision Commission announced on Tuesday that the Financial Services Bill and Collective Investment Schemes Bill have this week completed their scrutiny in the Manx Parliament.
The Bills have been submitted for Royal Assent, and it is planned that they will be brought into force soon after Royal Assent is given.
Chief Executive of the Financial Supervision Commission, John Aspden commented that:
“I am delighted that these important pieces of legislation are progressing well."
"The Bills will provide a modern platform for a successful and well regulated financial services industry, and we thank licenceholders and practitioners for their assistance with the proposals”.
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