The Isle of Man Financial Services Authority is close to completing post-consultation changes to the Financial Services (Miscellaneous) Provisions Bill and the Retirement Benefits Schemes (Amendment) Bill, and plans to publish Feedback Statements and confirm next steps in early 2026. For the Financial Services (Miscellaneous) Provisions Bill, revisions focus on the proposed civil penalty provisions for individuals, with tighter definition of scope and application in primary legislation and further detail to be set out in secondary legislation. The Authority is also proposing additional amendments in response to consultation comments, including removing some measures to allow time for further consideration. For the Retirement Benefits Schemes (Amendment) Bill, proposed changes reflect feedback on the legislative framework intended to support future updates to the regulatory regime for pension services and pension schemes. The Authority is working with HM Attorney General’s Chambers on revised drafts. The Feedback Statements due in early 2026 are expected to summarise consultation themes, set out the Authority’s responses, outline proposed changes, and describe intended next steps, including a separate consultation on the secondary legislation linked to the civil penalty provisions.

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