49 results found

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.

A recent amendment to charities legislation in Bermuda has enhanced the island's anti-money laundering and anti-terrorist financing (AML/ATF) protections.

The proposed amendments to the Proceeds of Crime Act 1997 (POCA) (and related legislation) under the Proceeds of Crime Amendment Bill 2015 require careful reading.

As we enter 2024 the myriad of regulatory changes can appear overwhelming. We are here to help and have set out below some key changes and issues that can impact Bermuda entities.

The Bermuda Court has confirmed that it has the jurisdiction to remove the protector of a Bermuda trust.

Regulatory compliance continues to be an area of significant development in Bermuda. While anti-money laundering (AML), anti-terrorist financing (ATF) and global financial sanctions have been in focus for some time...

Carey Olsen, recently ranked in the FinTech sector by Chambers & Partners across each of its Bermuda, British Virgin Islands (BVI), Cayman Islands and Jersey offices (with a number of notable practitioners)...

The Bermuda Monetary Authority has introduced new requirements for police clearance certificates when vetting key personnel at anti-money laundering and anti-terrorist financing regulated financial institutions. This policy change affects licensing, recruitment, and ownership transitions by requiring criminal record documentation from countries where individuals have resided, with specific implications varying across different sectors of Bermuda's financial services industry.

This memorandum provides an overview of the Anti-Money Laundering/Counter Terrorism Financing ("AML/CFT") regime in Bermuda

Financial technology, or fintech, in the broadest sense of the word involves the use of software in the provision of banking and financial services.

Bermuda's long-term re/insurance market has grown considerably in recent years. The island now has 144 registered long-term re/insurers and the sector's assets have increased by ...

Bermuda's risk-based financial regulatory framework inevitably creates disagreements between regulated entities and the Bermuda Monetary Authority over compliance interpretations. This analysis explores why such conflicts arise in proportionate regulatory systems and presents a structured five-step approach for resolving regulatory disputes without resorting to costly litigation while maintaining professional relationships.

Bermuda's financial services sector faces a critical challenge as traditional compliance frameworks struggle to keep pace with the BMA's increasingly sophisticated, data-driven supervisory approach. Many firms have inadvertently created compliance systems so heavy and reactive that they impede business operations rather than effectively managing risk. The article examines how a shift toward precision-based, truly risk-sensitive compliance can transform regulatory burden into competitive advantage.

Conyers offers legal and corporate services to a broad client base, including FTSE 100 and Fortune 500 companies, international finance houses and asset managers.

Bermuda is a leading international financial centre and maintains a comprehensive body of primary legislation relating to money laundering and terrorist financing, supported by a range of general and sector specific Guidance Notes ...

Bermuda is a leading international financial centre and maintains a comprehensive body of primary legislation relating to money laundering and terrorist financing...

The Financial Action Task Force (FATF) describes itself as the ‘global money laundering and terrorist financing watchdog'. A G7 summit in Paris in July 1989 established the FATF...