The Isle of Man Financial Services Authority said it plans to go ahead with proposed changes to the regulations governing the way closed ended investment companies are to be run on the island, in the wake of a consultation that closed in May. In publishing a summary of responses to the consultation paper yesterday, the […]
The European Securities and Markets Authority (Esma) published its advice on the application of the Alternative Investment Fund Managers Directive (AIFMD) passport in Australia, Bermuda, Canada, Cayman Islands, Guernsey, Hong Kong, Japan, Jersey, Isle of Man, Singapore, Switzerland, and the United States. As part of a possible extension, which is yet to be vetted by […]
French insurance giant AXA is to sell its UK non-platform investment and pensions business, AXA Wealth, and its Sunlife direct protection business to Phoenix Group Holdings, the company announced today. Based in London, Phoenix Group is a FTSE 250-listed, closed-life insurance fund consolidator that specialises in the management and acquisition of closed life and pension […]
AXA announced that it has reached an agreement with Life Company Consolidation Group to sell its offshore investment bonds activities based in the Isle of Man (AXA Isle of Man). The transaction is still subject to customary closing conditions and regulatory approvals. The deal is expected to be completed during the second half of 2016. The companies did […]
Whenever native English speakers go abroad, they discover a wealth of new words and expressions that typically have their origins in the history and culture of the places they’re now living. This phenomenon is neither new, nor a problem. Indeed, most expatriates who live in such financial centres as Hong Kong, Dubai, London, Singapore, Rio […]
Investing in clean energy is not a simple choice between right and wrong, says John Spellman, director of Financial services at the Isle of Man Government.
Skandia International, the offshore business of Old Mutual says it is working with qualified recognised overseas pension schemes providers to offer simplified QROPS arrangements across multiple jurisdictions.
The parliament of The Isle of Man is set to consider an overhauled Foundations Act, which will allow the jurisdiction to expand its wealth management capabilities and attract new business from high net worth and institutional investors.
In an attempt to improve the Isle of Man’s commercial competitiveness, the Crown Dependency has established a new body, The Isle of Man Financial Partnership.
S&P rates the Isle of Man and Guernsey ‘AAA’, something investors such as Warren Buffet or Bill Miller of Legg Mason, and president Obama, might have made more use of in the past week when knocking the ratings agency.
Guernsey administrator opens in China, Jersey funds administration recovers to pre-recession levels while Asian bank deposits rise, IoM signs TIEAs with Japan and Indonesia, more planned with Europe.
A tool to help advisers identify client attitudes to risk and two new funds intended to take advantage of that tool have been announced by Skandia International.