FSA reforms to benefit offshore life investors

Professional Adviser
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tax & jurisDiction

Offshore investors are likely to benefit by the UK Financial Services Authority (FSA) decision to implement reforms on the governance of life insurance firms. These reforms include forcing managers to make the use of discretion in with-profits funds more transparent and making directors and senior management of life insurers explicitly responsible for all decisions of their business, including those taken on actuarial advice. Christine Hall, offshore marketing manager at Axa Sun Life, said: 'Although Axa Isle of Man, being based in the Isle of Man is not directly governed by the sa...

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