The Island is acknowledged to be one of the best regulated international financial centres, with the regulators working in harmony with the private sector.
The main regulatory and supervisory bodies are:
Financial Services Authority
The Isle of Man Financial Services Authority is the regulatory body for the financial sector in the Isle of Man. The objectives of the Authority are to secure an appropriate degree of protection for the customers of financial services providers, the reduction of financial crime and the maintenance of confidence in the Island’s financial sector through effective regulation.
The Isle of Man operates a Category One, Red Ensign Group British Register that provides for the registration of ships of any size or type and, consequently, Isle of Man Red Ensign carries non-FoC status (Flag of Convenience).
In 2003 the Ship Registry adopted the "Large Yacht Code" which facilitated superyacht registration on the Isle of Man.
The Isle of Man Aircraft Registry was established in 2007 to provide a customer focused service for the registration of high quality private and corporate jets and high quality twin turbine-engine helicopters. Isle of Man registered aircraft cannot be used for Commercial Air Transport. It is the only dedicated corporate aircraft register in Europe.