Events, Courses & Seminars

Introduction to the FSA's new Enforcement Decision-Making Process and Settlement Procedure

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Location: Upper Hall, Loch Promenade Church, Douglas.

This DQ sponsored seminar is with Tom Maher, General Counsel, Isle of Man Financial Services Authority (the "Authority").

Tom joined the Authority in July 2018 in this newly created role. Prior to this, Tom was managing partner of a law firm in the Isle of Man where he had a varied practice involving regulatory, commercial and trust matters. As general counsel, Tom is the lead legal advisor to the Board and Executive of the Authority. Tom acts as Secretary to the Board of the Authority and also oversees corporate governance within the organisation. Tom is an Isle of Man advocate.

In its Strategic Plan which was published last year, the Authority committed to further develop its culture of constructive, open and transparent engagement with industry and other key stakeholders. As part of that commitment, the Authority has developed and implemented a new enforcement decision-making process. The decision-making process document (the "DMP"), which will be published on the Authority's website in Q3 2019, sets out clearly the staged process which the Authority follows when considering certain enforcement action. The DMP also introduces for the first time in a public document the concept of settlement in enforcement cases. In this seminar, Tom Maher, General Counsel of the Authority, will explain the background to the DMP, the reason for implementing it now, the rationale for the new formal settlement procedure and provide guidance on the Authority's expectations of industry. This presentation is particularly important for the board, MLRO/DMLRO, compliance officers and senior managers of licenceholders.

If you would like to attend this session, please e-mail aking@acsp.co.im stating who from your firm would like a place. All bookings will be confirmed by e-mail. All bookings are subject to the first come first served system. This seminar is free to staff of member firms and associate members of the ACSP.
This event is sponsored by DQ Advocates.