Treasury Minister Eddie Teare says the Financial Supervision Commission acted quickly and properly in the Louis Group affair.
Several of the Louis Group’s investment vehicles were wound up by court order after the FSC said it was important to protect investors.
In the House of Keys today (Tuesday), Mr Teare faced questions from North Douglas MHK John Houghton.
He defended the FSC:
Treasury minister 'hopes' businesses will pass on VAT reductions to customers
Falling from 20% to 5% for certain activities over summer
TT 'massive' for hospitality industry
Local businesses prepare for race week
Hopes summer VAT cuts will ease cost of living pressures for families and businesses
IoM Government mirrors UK action
'The TT is our crown jewel' says caterer
Hospitality vendors praise look and atmosphere of The Grandstand
