Budget announces a major restructuring on Isle of Man

Isle of Man Treasury minister Allan Bell has announced a high-level review of the island's banking a...

Isle of Man Treasury minister Allan Bell has announced a high-level review of the island's banking and captive insurance sectors, following the completion of a major report of its funds sector. In his speech at the principality's 2007 Budget, Bell revealed a number of recommendations to come out of the recently-completed review, including the introduction of a specialist fund category. Another area is to focus on the target market of front and middle-office functions of London-based alternative fund managers, as well as managers in other key fund centres. The review, chaired by internatio...