Isle of Man Adopts Investment Business Law to Regulate Professionals Providing Offshore Services

The Isle of Man has passed legislation that will make it more difficult for fraudsters, criminals, and other undesirable operators to conduct business in the jurisdiction.  The new law requires anyone undertaking investment business in or from the Isle of Man from January 1, 1992 on, to obtain and maintain a license.  The legislation includes selling life or pension products in or from the Isle of Man.  Most important, the legislation will stop investment busineess being conducted outside the island.