Cabinet Office & Central Registry Update

The Insurance Institute of the Isle of Man is happy to announce that their next event will focus beneficial ownership, upgrades to the Companies Registry and current AML/CFT challenges.

Learning objectives:
This CPD event represents a fantastic opportunity for members to hear first-hand from Senior Civil Servants about the current challenges and opportunities facing the Isle of Man, following the event, delegates will be able to identify:

• Technical changes planned to Companies Registry, the reasons for these and the benefits to industry
• Current developments concerning the adoption of central registers of the beneficial ownership of companies globally
• Significant international AML/CFT challenges and initiatives

Speakers
Karen Ramsay – Head of AML/CFT Policy
Karen has worked in both the voluntary and the public sectors in the UK and the IoM. Originally from the IoM, Karen returned to the Island in 1998, establishing a not for profit organisation working with schools, police, health and social services to support young people experiencing difficulty maintaining their place in education.

In 2003 Karen joined IoM Government as Director of Corporate Services in the Constabulary, with responsibility for the delivery of policing support services. In 2005 Karen was appointed Head of Crown and External Relations in what is now the Cabinet Office, responsible for a portfolio that included immigration, passports and nationality services, elections, Crown appointments, and working with departments, industry and the public to help resolve issues relating to matters involving other countries.
From 2014, Karen led the development of the first AML/CFT National Risk Assessment (NRA) for the IoM, working with the World Bank and participants from across Government and industry.

In 2016 Karen and her team organised and coordinated the inspection of the IoM by international assessors against the FATF AML/CFT standards. The AML/CFT Policy Office was established shortly afterwards, in recognition of the increasing focus internationally on efforts to address money laundering and terrorist financing, with Karen as the Head of AML Policy. The main activities of the Policy Office include, providing advice to Ministers on AML/CFT matters, leading engagement with international AML/CFT bodies representing the interests of the IoM, leading and delivering NRA, overseeing the development and delivery of AML/CFT national strategies and coordinating the Government response to international oversight and evaluation.

Edward Clague – Registrar General
Ed joined the Civil Service in 1990 and has previously held senior roles with Government Technology Services and the Department for Environment, Food and Agriculture.

He joined the General Registry in 2013 as Director of Public Services responsible for the Civil, Land and Deeds Registries, Civil Legal Aid and the Public Record Office. In 2015 he led the establishment of the Central Registry under the Department for Enterprise, combining the Civil, Land and Deeds Registries, and Public Record Office from the General Registry with DfE’s Companies Registry. In 2017 the Central Registry added the Beneficial Ownership Register to its portfolio of registers. Ed has held the role of Registrar General with overall responsibility for all aspect of the Central Registry’s operations since 2018.

The Companies Registry holds details of more than 25,000 companies and other corporate structures and processes over 80,000 individual transactions per year. The Registry is about to undergo and an ambitious programme of change to deliver more services online and improved the quality of the information maintained.