ARTICLE · 23 SEPTEMBER 2016

Bermuda Exempted Funds Regime

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In 2013, Bermuda's investment funds regime was updated as a result of collaboration between the Bermuda Monetary Authority (BMA), Government and industry stakeholders...

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In 2013, Bermuda's investment funds regime was updated as a result of collaboration between the Bermuda Monetary Authority (BMA), Government and industry stakeholders to include the establishment of two new classes of 'light-touch' exempted (non-regulated) funds, namely:

Class A exempt funds; and
Class B exempt funds.

Extension of Transition Period

Previously exempted funds under the old (pre-2013) regime were originally given a transition period of three years within which to convert to one of the two new classes. The initial transition deadline was 3 October, 2016. However, the deadline was recently extended by an additional year such that any relevant pre-existing or legacy exempted funds will now have until 3 October, 2017 to re-classify as either a Class A or Class B exempt fund.

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