A new simplified system has been introduced geared toward combating money laundering and terrorist financing.
Tynwald recently supported the move by the Department of Home Affairs to unify the existing codes of practice that govern the main financial sector and online gambling.
The codes serve to provide businesses with legal guidance in respect of financial crimes.
Home Affairs Minister Juan Watterson says more revisions will be required in the future if the Island’s to remain at the forefront of global standards.
He also admits that the Island still has a long way to go in changing people’s perception of how it operates:
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Lieutenant Governor to bungee jump for charity
Five sets of roadworks on one estate in six months
Weather postpones council's Easter fun day
Seven ferry crossings hit by water levels and dredging issues in Douglas
Sam Barks returns to Les Mis in transatlatic tour
DHSC commissioning rapid review of Noble's bed capacity
Progress being made on landmark's new building
Temporary traffic lights on TT course section
