News
Announcements and updates from Westwinds Offshore Services, including relevant Isle of Man regulatory news.
New website and brand launched
We are pleased to launch our new website, reflecting our updated branding.
IOMFSA publishes new Beneficial Ownership guidance
The Isle of Man Financial Services Authority has issued new guidance on the beneficial ownership requirements, replacing the guidance issued in December 2024. The 2026 Guidance reflects the changed registrable […]
Beneficial Ownership Act amendment in force
A package of secondary legislation amending the Island’s beneficial ownership framework came into operation, following approval by Tynwald. The Beneficial Ownership Act 2017 (Amendment) Order 2026 changes the registrable threshold […]
Verification of Entity Registration Bill 2026 begins passage through Tynwald
The Verification of Entity Registration Bill 2026 began its passage through the legislature at the House of Keys, proposing changes to standardise how registration information is collected and verified, strengthen […]
Updated Money Laundering National Risk Assessment published
The Isle of Man Government has published an updated Money Laundering National Risk Assessment, including a sectoral assessment for Trust and Corporate Service Providers. The TCSP sector’s money laundering risk […]
Central Registry consults on Companies Miscellaneous Amendment Bill
The Central Registry proposed a Companies Miscellaneous Amendment Bill extending the categories of legal entity required to register beneficial ownership, broadening the required information, and addressing the identities of nominee […]
Designated Businesses and Proceeds of Crime amendment Orders take effect
The Designated Businesses (Amendment) Order 2024 and the Proceeds of Crime (Business in the Regulated Sector) (Amendment) Order 2024 became operational, substituting Schedule 1 of the Designated Businesses (Registration and […]
Sanctions Act 2024 comes into operation
The Isle of Man Sanctions Act 2024 came into operation, replacing earlier sanctions legislation with a single modern framework for giving effect to UK sanctions in the Island. Firms should […]
IOMFSA publishes TCSP thematic review findings
The Isle of Man Financial Services Authority has published the phase two findings of its thematic review into Trust and Corporate Service Providers’ Business Risk Assessments, following desk-based inspections of […]
GIFCS peer review rates IOMFSA compliant on TCSP regulation
An international peer review by the Group of International Finance Centre Supervisors (GIFCS) found the Isle of Man Financial Services Authority "compliant" in 9 of 10 key areas assessed for […]
Regulatory Updates
The items below are published by an external regulatory body, not by Westwinds. Each item is labelled with its source below; click through to read the full item on the issuing organisation's own website.
UK Office of Financial Sanctions Implementation (OFSI) Blog
Achieving our objectives; Supporting our stakeholders: OFAC-OFSI Enhanced Partnership Exchange 2026
Sanctions are among the most powerful tools available to the U.S. and UK governments in advancing our respective foreign policy and national security interests. In January 2026, as…
Marking 10 years of OFSI: partnership, progress and the future of financial sanctions
What does a decade of UK Financial Sanctions look like in practice? At the end of April, to mark its 10th anniversary, OFSI hosted an international conference on sanctions, bringing together partners and stakeholders from…
OFSI Strategy 2026-29
This year marks ten years since the Office of Financial Sanctions Implementation (OFSI) was established. Over the last ten years, OFSI has built stronger capability and confidence, enhancing licensing, enforcement and…
OFSI’s 10 Year Anniversary – Reflections from Giles Thomson, Director of OFSI
Ten years ago, the Office of Financial Sanctions Implementation (OFSI) was established to ensure that the United Kingdom’s financial sanctions are clearly understood, effectively implemented and robustly enforced. Over the past decade, financial sanctions have become an…
Reasonableness in licensing – updated approach
In June 2021, OFSI published a blogpost, “Reasonableness in licensing”, which set out how we assess “reasonableness” when considering licence applications under UK financial sanctions regimes. This blogpost, “Reasonableness in licensing…
Other Regulatory Sources
These organisations publish their own regulatory news directly. Their feeds could not be embedded automatically on this page — visit their own websites below for the latest updates, or subscribe directly using their own RSS feed where one is offered.
Isle of Man Government — News
Official news releases from the Isle of Man Government, including sanctions and export control updates. Offers its own RSS feed for subscription via a feed reader or Microsoft Outlook (the feed could not be embedded directly on this page — see the guide below for why).
Isle of Man Financial Services Authority — News
Regulatory news, consultations, enforcement notices, and guidance from the IOMFSA, the Island's financial services regulator.
MONEYVAL (Council of Europe)
The Council of Europe's anti-money laundering evaluation body, which assesses the Isle of Man (alongside Guernsey, Jersey, and Gibraltar) for compliance with international AML/CFT standards. The Island's next on-site evaluation is due in October 2026.