Risk of overregulation ahead of Moneyval has led to 'friction'

Chief minister discusses response from business sector ahead of assessment

The chief minister admits there has been some angst and friction between government and the business community ahead of next year's Moneyval assessment.

Alfred Cannan was asked about concerns from local industry about overregulation.

Mr Cannan told Tynwald there is a difficult process to go through, and that the Island must meet higher standards to ensure it passes the examination.

But he's confident government and the regulated sectors can work together: