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<p>The consumer rights and protections that apply to UK consumers who purchase financial
products from third countries, including the Isle of Man, will depend on the type
of financial product and the relevant third country’s financial services regime.</p><p>
</p><p>Under EU rules, it is the responsibility of the regulator in the country where
the insurance product is purchased to monitor its insurance market. In the UK, the
Financial Conduct Authority (FCA) has powers to act if a firm is conducting a regulated
activity without the required permission. The Government is confident in the FCA’s
ability to monitor the UK insurance market and protect consumers who buy insurance
products in the UK.</p><p> </p><p>In relation to other financial products, third country
investment funds wishing to market to retail consumers in the UK are assessed on a
case-by-case basis by the FCA to ensure they offer adequate protection to consumers.</p><p>
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