Isle of Man Treasury Minister Allan Bell has announced a high level review of the island's banking and captive insurance sectors, following the completion of a major report reviewing its funds sector.
The review, chaired by international funds expert Paul Smith, also recommended a revised offering to fund managers to include a tailored business proposition for location to the island, and a set up assistance package.
In addition, Bell announced the establishment of a £20m Economic Development Fund. The fund will extend the financial support available to new businesses to include new categories, prioritising those high value opportunities that provide the best prospects for fostering economic growth and inward investment.
Chris St John to take over £3bn UK Select Opps
The majority of financial advisers (85%) believe the number of self-invested personal pension (SIPP) providers will continue to fall in the coming year, according to Dentons Pension Management research.
Short-term noise or something sinister?