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Regulation 'no hindrance' to new business

IQE buoyant at milestone anniversary

The head of a local fiduciary services provider says he is optimistic for the firm's future in a more tightly regulated financial climate.

IQE, formerly Simcocks Trust, has recently celebrated its 15th anniversary and moved into new offices on North Quay, Douglas. 

Managing Director David Karran said the Manx finance industry has responded well to the economic crises of the past decade, believing "challenge and opportunity go hand in hand".

He said fears that significant changes to the offshore fiduciary sector caused by tightening regulation would deter investment partners, have proved groundless.

Mr Karran told Jason Roberts the reverse has happened - and the drive to increasing transparency has boosted confidence in the Island's offer:

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