Business owners urged to check responsibilities
Five firms on the Isle of Man have been fined, in the last two years, for offering services without being registered with the Financial Services Authority.
It's led to £25,000 in fines.
Companies, and individuals, need to be registered in order to trade under the Designated Businesses (Registration andd Oversight) Act (2015).
It covers a range of companies including accountants, bookkeepers, crypto companies and estate agents.
The FSA is encouraging anyone considering starting a business to check their resources at www.iomfsa.im and seek support if needed.
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