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Isle of Man Government publishes its commitment to combating money laundering

Posted on in IQE Isle of Man

In the same week that the United Kingdom’s HM Revenue and Customs launched a renewed effort to combat tax avoidance, the Isle of Man Government published its Commitment to Combating Money Laundering and the Financing of Terrorism and Proliferation.

The Manx publication, which is introduced by the Island’s Chief Minister, lists the Island’s numerous memberships of international supervisory bodies, including the International Organisation of Securities Commissions.  It also provides details of recent assessments carried out on the Isle of Man by various international organisations, which include the International Monetary Fund and the Organisation for Economic Cooperation and Development (OECD). 

The publication lays out the Isle of Man Government’s “commitment to maintaining domestic legislation, policies and procedures which ensure effective compliance with the international standards and, where necessary, progressing further measures in the future to implementing evolving international standards and best practice.”

Moira McHarrie, IQE Executive Director with responsibility for the company’s compliance noted, “We are very pleased to see the Isle of Man Government take such a proactive stance with regard to the prevention of money laundering and the financing of terrorism.  The Isle of Man continues to ensure that it is at the forefront where international standards and best practice are concerned, as was demonstrated recently by the Island’s inclusion as one of only 12 countries found by the OECD to have in place all the elements of effective tax information exchange.”

We have the expertise to assist with multi-jurisdictional fiduciary services for international structures

As an independent Non-Executive Director of Ishaan Real Estate Plc I worked closely with IQE who provided Company Secretary and administration services. IQE hosted the board meetings, prepared minutes often on complex matters and were central to the communication between the international board members, lawyers, accountants and advisers. I found them to be reliable, approachable and pragmatic and IQE provided a professional and responsive service with extremely high standards appropriate for a company quoted on the London Stock Exchange’s AIM market. I would be happy to recommend their services. Stephen Vernon, Chairman, Green Property

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