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ARTICLE · 24 AUGUST 2026

BMA Introduces Police Clearance Certificate Requirement For Key Persons

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The Bermuda Monetary Authority has introduced a new regulatory requirement mandating Police Clearance Certificates for Key Persons in AML/ATF-regulated financial institutions, effective October 2026.

BermudaFinance and Banking
Marcello Ausenda
Marcello Ausenda
Jennifer Panchaud
Jennifer Panchaud
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The Bermuda Monetary Authority (BMA) has announced that effective 1 October 2026, a Police Clearance Certificate will be required for applications or notifications relating to AML/ATF-regulated financial institutions submitted to the BMA, where the submission requires BMA vetting of a Key Person. This includes new applications, appointments and notifications of changes to a Key Person submitted on or after 1 October 2026 that require BMA vetting. Complete submissions received by the BMA before that date are unaffected.

What Is Required?

In the context of an AML/ATF-regulated financial institution, a “Key Person” includes any person subject to a fit and proper assessment under the minimum criteria for licensing or registration in the relevant regulatory Acts. The new requirement provides that:

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