Isle Of Man
Investment | 18 Jul 17
IoM’s Quadris Environmental Fund declared in default
Isle of Man-based Quadris Environmental Fund has been declared in default by its American lender and had its bank accounts frozen, leaving around 1,200 investors fearing they will lose all or most of their investments.
Best Practice | 12 Jul 17
Isle of Man regulator steps up anti-money laundering crackdown
The Isle of Man financial regulator is taking action against anti-money laundering and terrorist financing with new guidance rules aimed at “avoiding a tick-box approach” to assessing the risk of customer involvement in such activities.
Collapsed Premier Group loses out on £39m debt payment
There is no prospect that Isle of Man-based Premier Group will receive any of the £39m ($50.6m, €44.4m) the company is owed by a waste management company it funded through its New Earth Group collective investment schemes.
IoM regulator scraps January 2018 commission disclosure
UPDATED: Insurers headquartered on the Isle of Man will no longer have to provide customers with generic information about commissions and fees from 1 January 2018 after the island’s regulator scrapped its plans, in a move welcomed by the industry.
Adviser slams IoM regulator over Quadris Environmental fund
A Shanghai-based financial adviser has heavily criticised the Isle of Man Financial Services Authority (IoMFSA) over how it has handled the fallout of the Quadris Environmental Forestry Fund, which invested in Brazilian teak plantations.