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ARTICLE · 10 APRIL 2023

Bermuda Investment Business Act – Recent Developments

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The Investment Business Act 2003 was materially amended by the Investment Business Amendment Act 2022 and these amendments came into effect on 27 July 2022 (collectively, the IBA).

BermudaFinance and Banking
Sharon A. Beesley
Sharon A. Beesley
Bourn Collier
Bourn Collier
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The Investment Business Act 2003 was materially amended by the Investment Business Amendment Act 2022 and these amendments came into effect on 27 July 2022 (collectively, the IBA).

The IBA, as revised, introduced some important changes to the investment business framework in Bermuda to better reflect the increasingly decentralised and geographically mobile operating model of investment providers. The aim of the revisions to the IBA regime is to enable the Bermuda Monetary Authority (BMA) to enhance its monitoring of the regulatory perimeter by streamlining the regulatory and supervisory framework of investment business and the revisions are part of the ongoing efforts to maintain Bermuda's reputation as a leading international financial services centre.

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