The Isle of Man Financial Services Commission (FSC) has granted its first licence for a trust servic...
The Isle of Man Financial Services Commission (FSC) has granted its first licence for a trust services provider (TSP) to be regulated under the Fiduciary Services Bill. All TSPs had until the end of October to submit their application for a licence. If any failed to meet the application deadline then they would not be allowed to continue to operate. The licensing process began on 1 August 2005. By 21 October, the FSC had received only 40 applications but it expected most to be submitted in the last week of before the deadline with expectations that it would receive between 130 and 150 app...
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