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The Great Recession in the United States was a severe financial crisis combined with a deep recession. While the recession officially lasted from December 2007 to June 2009, it took several years for the economy to recover to pre-crisis levels of employment and is slow recovery was due in part to households and financial institutions paying off debts accumulated in the years. The Isle of Man Financial Services Authority (the Authority) has today issued the draft Insurance (Group Supervision) Regulations 2019 and the draft Corporate Governance Code of Practice for Designated Insurers for consultation (the Regulations). Company secretaries (CS) are responsible to look after Company law, corporate strategies, security market, and other similar issues. Needless to say is a companys compliance with regulations and its smooth running is dependent heavily on company Secretaries.
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