ARTICLE · 08 APRIL 2013

BMA Annual Fee Deadlines And New Online Filing System

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Payment of 2013 annual fees for all exempted and authorised funds which have not received revocation prior to 31 December 2012 are payable on or before 31 March 2013.

BermudaWealth Management

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2013 Annual Fee Deadlines

Payment of 2013 annual fees for all exempted and authorised funds which have not received revocation prior to 31 December 2012 are payable on or before 31 March 2013.

Payment of annual fees for all licensed fund administrators which did not surrender their license prior to 31 December 2012 are payable on or before 31 March 2013.

After 31 March 2013, a late penalty of 10% of the fee due will be applied every month (or part thereof) during which the fee remains unpaid.

Online Filing System (ERICA)

In an effort to enhance the efficiency and effectiveness of its operations, the Bermuda Monetary Authority ("BMA") has launched an online filing system known as the Electronic Regulatory Information Compliance Application ("ERICA"). Appleby successfully participated in the beta testing of this system and is very familiar with ERICA applications.

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