Aggregated News From Investment Management Regulators

Authority publishes enhanced inspections guidance

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In tandem with the development of our Supervisory Approach, we have enhanced our inspection methodology which will be applied on all inspections undertaken by the Authority.

The guidance, which is available to view here, provides an overview of how Firms are selected for an inspection and what they can expect during the different stages of the process.

The guidance is intended to promote transparency by providing Firms with typical timelines and an understanding of what happens during each phase of an inspection and outlines expectations of the Firm and the Authority throughout the process.

It also sets out the requirement for Firms to produce a remediation plan (where appropriate) to explain how and when they will address any observations and conclusions arising from an inspection.

Firms are encouraged to read the inspections guidance document to familiarise themselves with the updated approach.

This news item was originally published by the Isle of Man Financial Services Authority (IOMFSA IM). For more information, see the Source Link.

Regulator Information

Abbreviation: IOMFSA
Jurisdiction: Isle of Man

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