In 2008 the Isle of Man implemented the Financial Services Act 2008 and the Collective Investment Schemes Act (CIS). The CIS relates to retail funds.
In general in the Isle of Man there is no specific category of licence for hedge fund managers or administrators. Most hedge funds are structured as experienced investor funds (EIFs), professional investor funds (PIFs) or overseas funds. A manager of these types of funds would be required to have a category 3(b) investment business licence. The