Mind and Management Requirements for the Fiduciary and Investment Sectors

7th June 2022

Following completion of its recent consultation on mind and management requirements for the Fiduciary and Investment sectors the Commission has today issued updated consolidated versions of the Fiduciary Rules and Guidance, 2021 and the Licensees (Conduct of Business) Rules and Guidance, 2021. Both sets of Rules have been amended with the addition of a new rule requiring fiduciary and investment licensees (excluding investment licensees which are administered by another firm in the Bailiwick) to appoint such number of Bailiwick-based senior executives as is commensurate with the nature, size and complexity of the licensee’s activities in the Bailiwick.

A feedback statement on the consultation has also been published and can be found here.

The new rules will come into operation on 10 June 2022.

Copies of both sets of Rules and Guidance can be found at the following links:

Fiduciary Rules and Guidance:

Conduct of Business Rules and Guidance: