The Isle of Man Financial Services Authority has published updated Regulatory Guidance on Fitness and Propriety and an updated F&P1 Individual Questionnaire, changing how criminal record checks are processed for notified and accepted Controlled Functions. Section 8c now requires firms to submit a copy of the criminal record check certificate from the checking body with the F&P1 Individual Questionnaire. The Authority linked the change to aligning its approach with current practice for R1 individual controllers under the F&P3 process, where it already receives a copy of the criminal record check.
Isle of Man Financial Services Authority 2025-08-12
Isle of Man Financial Services Authority updates fitness and propriety guidance to require criminal record check certificates with F&P1 submissions
The Isle of Man Financial Services Authority has updated its Regulatory Guidance on Fitness and Propriety and the F&P1 Individual Questionnaire, altering the processing of criminal record checks for Controlled Functions. Firms must now submit a copy of the criminal record check certificate with the F&P1 Questionnaire, aligning with the existing practice for R1 individual controllers under the F&P3 process.