Isle of Man – FSA Beneficial Ownership Rules

Isle of Man – FSA Beneficial Ownership Rules

On 1 February 2022, IOM FSA, IOM GVT issued beneficial ownership proposals.


  • Feedback sought on measures to encourage compliance with beneficial ownership law.
  • Broadens scope of Beneficial Ownership Act 2017 contraventions for which civil penalty can be considered, including where currently only criminal penalties are available.
  • This will strengthen IOM FSA’s ability to deal with offenses in an effective manner.
  • Enforcement critical to safeguarding Isle of Man’s reputation; supports objectives of maintaining confidence in financial services sector and reducing financial crime.


  • Responses to the consultation should be submitted by 28 February 2022.