Press Releases

International Business School Visit to the
International Monetary Fund, Washington

Pictured in a branch of Edward Jones Investments, one of the companies which hosted the group during their study trip. Back row - L-R - Mike Lodes (Edward Jones), Ken Watterson, Stephen Maddrell and Programme Leader, Chris Thomas Front Row - Andy Walker, Jesse Hill (Edward Jones), Lesley Corlett and Sean McGroggan

Following the International Monetary Fund's visit to the Isle of Man in October 2002 to scrutinise the Island's regulatory environment, students taking the Masters programme in Financial Regulation & Compliance Management at the International Business School turned the tables while taking a study visit to Washington in order to discuss and debate regulatory matters.

The International Monetary Fund was one of a number of high-profile institutions visited by the group on their study trip to Washington and St Louis where they were able to raise awareness about the Isle of Man at the highest level within the American financial sector. 

Following an introduction to Washington by the Isle of Man's Honorary Representative in the USA, Susan Kelly-McCarthy, other meetings were held with senior representatives from the SEC, the CFTC, the Federal Reserve Bank, Missouri State's Insurance Regulators.  Students also met with practitioners, research institutes including Dan Mitchell at the Heritage Foundation and lawyers. 

One of the main aims of the International Business School's study visits is to provide participants with valuable practical experience, knowledge and contacts.  In addition to this, Masters programme student, Stephen Maddrell of Royal Bank of Scotland International, recognises that they also help to raise the profile of the Isle of Man.  "The Isle of Man Finance Sector has come under increasing scrutiny in recent years, and it is important for us, both as Masters students and as practitioners, to be able to discuss the driving forces for this in some detail with senior officials from international bodies.  The meetings were extremely beneficial and we were hosted excellently by all concerned.  We were also pleased to have the opportunity to correct some general misconceptions about the Isle of Man.  The International Services Division and the Financial Supervision Commission have already done some very important work in this regard, and we view our study visits as being complementary to this."