Introduction to the TSP Licensing Regime

1
Introduction to the TSP Licensing Regime

• Financial Supervision Commission
• 24 May 2005

2
Welcome

• Jane D N Bates
• Head of Authorisations and Companies

3
Preliminaries

• Housekeeping
• The Authorisations Team
• Timescales
• Todays agenda

4
Housekeeping

• Fire exits
• Mobile phones
• Handouts
• Slides on website

5
Who are the Authorisations Team?

• John Aspden Chief Executive
• Jane Bates Head of Division
• Liz Berry Senior Policy Advisor
• Paul de Weerd Senior Manager

6
Who are the Authorisations Team?

• Justine Bowen Manager
• Helen Cullen Manager
• Kerry Thomson - Manager
• Marie Ball Supervision Officer
• Scott Dixon - Administrator

7
What do we do?

• ALL current licensing and vetting
• Banks
• Building societies
• Investment business
• Schemes
• CSPs
• NOT ongoing supervision
• TSP licensing and vetting

8
The TSP Regime - Where we are now?

• Fiduciary Services Bill passed by Tynwald
• Awaiting Royal Assent
• Appointed Day
• Enactment of the Codes
• Open for business

9
Todays Agenda

• Legislation update
• How the Commission will process applications
• Coffee (and chance to put in written questions)

10
Todays Agenda (contd)

• Preparing an application
• Supervisory Regime
• Panel session