IoM extends CAROL consultation deadline

In the second consultation paper on the Consolidation and Review of Financial Services Legislation, also called CAROL, the Commission outlined initial proposals for regulated activities, exclusions and exemptions, including clarification of the definition of “giving investment advice”. Issued on 1 June, the deadline for responses was meant to end on 31 July, but following feedback from the Legislative Liaison Group, (made up of representatives of professional bodies and formed specifically to liaise with the Commission over the CAROL project), the Commission has decided additional time is...