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FSC changing Irish and Luxembourg fund rules

The Financial Supervision Commission says it's working on regulations to make it easier for funds in Luxembourg and Ireland to sell to the Isle of Man.

The FSC says the regulations governing UCITS funds in the respective countries are equivalent to the Manx rules.

Luxembourg and Irish schemes won't need separate approval as Isle of Man Recognised Schemes, and won't have to go through the individual scheme review process.

They will, however, need to notify the commission and meet applicable requirements.

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