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Forthcoming Regulatory Regime for Money Service Businesses and E-money Providers 9 April 2008

The Financial Supervision Commission has issued a document explaining the impact of the Financial Services Act 2008 (“the Act”) on money service businesses.

The Act and associated regulations will take effect during the second half of 2008 and will introduce a new regulatory regime for money service businesses, including e-money providers. The document explains who will be affected, the likely impact and the key dates to be aware of.

The document can be found at:

http://www.gov.im/lib/docs/fsc/PressReleases/msbregulationsimpact_draft10_0.pdf

Any questions should be addressed to:

David Hodgson - Manager, Authorisations

e-mail: david.hodgson@fsc.gov.im

Telephone: 01624 689380

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