An Island insurance and wealth management company must pay £87,108 after admitting regulatory failures.
Isle of Man Assurance, based in Hope Street in Douglas, was investigated by the Financial Services Authority over allegations about its anti-money laundering and counter-terrorism financing procedures.
Customer risk assessments also hadn't been carried out properly.
The FSA imposed a £124,440 civil penalty but discounted it because the company had cooperated with the investigation.
Amount of money deposited in Isle of Man has dropped
The Island's banking regulator says the total amount of money deposited in the Isle of Man dropped over the last financial quarter.
Island tourism video featuring John McGuiness wins award
A video featuring over 30 Manx businesses has won a prestigious award.
Private plane company gets new manager
An Island-based private plane company has announced a new manager.
Douglas based law firm appoints new advocate
A Douglas based law firm has appointed a new advocate.
Island bar beats out tough competition to win prestigious award!
An Island drinks venue has won a prestigious business award.
Indian government investigating money laundering through the Island
The Indian government says it's investigating possible money-laundering offences involving a Chennai-based power company that's alleged to have diverted money to the Isle of Man.
Have your say on changes to employment law!
There's just under a fortnight left to have your say on proposed changes to employment law.
Peel gym is getting a makeover!
A gym in the west of the Island could get a facelift under new plans.
