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Revised Supervisory Approach 30 January 2007

The Commission’s most recent supervisory approach was published in August 2003. This has now been updated and enhanced with the following objectives:-

• To provide licenceholders with greater transparency regarding the Commission’s risk assessment process;

• To include Trust Service Providers;

• To update the threshold criteria relating to the impact ratings of “low”, “medium” and “high”; and,

• To provide greater clarity with respect to group supervision and the way in which the Commission liaises with other regulators.

There are no significant changes to the current supervisory approach and the Commission does not envisage that there will be additional work for licenceholders.

A copy of the document is available on the web-site (http://www.fsc.gov.im/policy/Supervisory_Approach/supervisiory_approach.xml). If you would like to discuss any aspect of this document, please contact the Head of Supervision on 689318 or your relationship manager.

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