363 results found

This Act was passed in the first quarter of 2016 but has not yet become effective. It is a lengthy Act with a number of separate and detailed statutory mechanisms which work in conjunction with one another.

The deadline for existing Bermuda companies, LLCs and partnerships to update or verify information regarding beneficial ownership has been extended again to 30 April 2019.

On 30 June 2020, the Cayman Islands Ministry of Financial Services & Home Affairs issued an industry update to advise that following three rounds of industry consultation

Following the inclusion in February 2022 of the Cayman Islands on the European Union's AML list, managers and investors have been turning to Bermuda as an alternative jurisdiction...

Bermuda has a long and rich history as a financial center, supporting both the asset management and insurance industries. In this article written for the AIMA Journal, Sarah Demerling, Walkers Partner and Chair...

The Bermuda Monetary Authority (the "BMA") has published guidance with effect from 1 May 2020 (the "2020 Guidance") which replaces the previous guidance on outsourcing...

Bermuda Regulatory Compliance for Digital Asset Business.

The Code of Conduct Group of the Council of the European Union has announced that, in recognition of the fulfilment of Bermuda's commitment to the Organisation for Economic Co-Operation...

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. This policy change extends beyond initial applications to encompass all subsequent personnel changes, fundamentally altering the vetting landscape for Bermuda's financial sector. Understanding these requirements and their implications is crucial for institutions seeking to maintain compliance with the island's

Segregated Portfolio Company (SPC) exists in various offshore jurisdictions, and it has become increasingly well understood and recognised.

Sarah was joined by nine other leaders in the banking, funds and asset management industry in the virtual debate.

The further draft of the Code published by the Isle of Man Financial Services Authority (IOMFSA) in November is expressed to constitute a "final consultation". We now can expect the Code to be enacted...

Wakefield Quin Limited is proud to have contributed the Bermuda Chapter in the eighth edition of the International Comparative Legal Guide to Lending & Secured Finance 2020.

Partner Adam Bathgate and senior counsel Nathalie West have authored the Chambers 2022 Global Practice Guide: Banking & Finance - Bermuda: Law and Practice

Bermuda has published its regulations with respect to reporting requirements under the OECD Common Reporting Standard ("CRS").

George McCallum, Karim Creary, and Jarion Richardson examine Bermuda's anti-money laundering framework for Digital Asset Business Act licence applications, exploring the policies, procedures, and governance structures that applicants must establish. The discussion reveals common pitfalls in AML programme preparation and explains how the Bermuda Monetary Authority evaluates compliance effectiveness.

On 21 April, the Bermuda Monetary Authority (BMA) published a consultation paper on "Proposed Enhancements to Supervisory Powers within the Investment Funds Act 2006".