IoM's New Regulator To Launch In November
by Jason Gorringe, Lowtax.net, London
17 August, 2015
The Isle of Man Financial Services Authority, the island's newly unified financial services regulator, will come into being on November 1, 2015.
The Isle of Man Financial Supervision Commission (FSC) and the Insurance and Pensions Authority (IPA) have been combined into a single regulatory unit under the supervision of Karen Badgerow, its first Chief Executive.
Badgerow said: "I am excited to be offered this opportunity to come to the Isle of Man at this time and to work with highly qualified teams in the FSC and the IPA in molding this new Authority. I also look forward to working with the financial services industries and government departments to continue the development of the island as a well regulated international finance center."
Geoff Karran and Peter Pell-Hiley, the chairs of the FSC and IPA, made the following joint statement: "We are delighted to announce Karen Badgerow's appointment as the first Chief Executive of the IOMFSA. We believe that Karen brings an excellent blend of regulatory experience in the areas of responsibility of the new combined body and also brings significant leadership experience that will be vital in managing the merger of the two existing regulators. This will enable her to lead the IOMFSA in its work to continue to enhance the Isle of Man's reputation as a well regulated financial services center, thereby supporting the island's economy and its development as an international business center."
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