Isle of Man regulator fines tax adviser over AML code breaches

Mark Battersby
clock • 2 min read

The Isle of Man Financial Services Authority has imposed a civil penalty on tax adviser Y&A Group after an inspection that identified a number of contraventions in relation to the island's Anti-Money Laundering and Countering the Financing of Terrorism Code 2019.  The regulator said in a notice on 21 September that "the making of such public statement supports the Authority's regulatory objectives of, among other things, securing an appropriate degree of protection for customers of persons carrying on a regulated activity, reducing financial crime and maintaining confidence in the Isle o...

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