The Isle of Man Financial Services Authority has published an updated version of its Supervisory Methodology Framework, making a single change to how risk categories are defined. The update renames the previous ‘Medium Low’ category as ‘Medium’, and the ‘How we assess risk’ section now uses a scale of Low, Medium, Medium High, and High. The descriptions of inherent risk and residual risk, and the Authority’s treatment of risk, remain unchanged, with the terminology change intended to better align with other international financial regulators.
Isle of Man Financial Services Authority 2025-01-14
Isle of Man Financial Services Authority updates Supervisory Methodology Framework risk rating terminology
The Isle of Man Financial Services Authority has updated its Supervisory Methodology Framework, renaming the 'Medium Low' risk category to 'Medium'. The risk assessment scale now includes Low, Medium, Medium High, and High, aligning terminology with international financial regulators. Descriptions of inherent and residual risk remain unchanged.