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Civil penalties for TSPs & results of consultation on penalties for other sectors 26 May 2006

The Financial Supervision Commission has issued a consultation document today (9 pages total) on:

  • its proposals for civil penalties for Trust Service Providers (“TSPs”) and
  • results of its second consultation on proposals for civil (financial) penalties for other sectors.

The document incorporates revised legislation which it is proposed to apply to all sectors, and is a consultation on these revised proposals.

We would be pleased to receive the views of all interested parties on the contents of this document, which may be found at www.fsc.gov.im Library/ Consultative Documents, entitled "Civil penalties for TSPs & results of consultation on penalties for other sectors". The proposals affect all the Commission's licenceholders. The consultation period runs until 5th July 2006.

In case of any queries, please contact:

Susan Woolard - Adviser, Policy and Legal Unit - e-mail: susan.woolard@fsc.gov.im

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