Assistance from the Isle of Man Government
During the period before FATCA comes into operation, the Government is reviewing its requirements and considering the possible nature of any inter-governmental agreement with the USA which may assist FFIs in the Isle of Man.
The requirements which FATCA seeks to impose upon FFIs will be considered in relation to current Manx legislation, such as data protection, and other international commitments to which the Island is bound.
If it is considered necessary to do so, legislative or regulatory changes will be made after consultation with industry.
Furthermore, Government will consult regularly with the business community to ensure that all views are considered.