Isle of Man in top category for financial standards

Isle of Man’s Chief Minister Allan Bell has welcomed an evaluation carried out for the G20 which includes the island in a list of countries “strongly adhering to international standards of co-operation and information exchange.”

The review which is requested by G20 leaders was conducted by the Financial Stability Board, and aims to strengthen the implementation of international financial standards.
 
Following an evaluation of around 60 jurisdictions of global financial importance, the FSB has published a list divided into three groups. The first, which includes the Isle of Man, names those jurisdictions which demonstrate sufficiently strong adherence to the international standards. The second includes locations which those making progress towards the standards; and the third identifies a small number of non-cooperative jurisdictions.
 
The Chief Minister commented, “The inclusion of the Isle of Man in the highest category of co-operative jurisdictions in the FSB report produced for the G20 is further recognition at global level that the Island is in the top tier of responsible countries. At this time of continuing economic and financial turbulence around the world the Isle of Man remains committed to playing its part in supporting international standards that promote greater financial stability.”

www.financialstabilityboard.org/publications/r_111102.pdf