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BERMUDA’S FINANCIAL REGULATORY BODIES TAKE CENTER STAGE

Overview

The Bermuda Monetary Authority (BMA) has established itself as a leading financial regulatory body in the island nation of Bermuda. With its headquarters in Hamilton, the BMA oversees a wide range of financial institutions and entities, ensuring their compliance with regulations and maintaining stability in the financial sector.

Regulatory Remit

• Banking
• Insurance
• Investment business
• Digital assets
• Trust companies, among others

The BMA’s supervision and regulation efforts are designed to promote public confidence in the financial system and protect consumers from financial harm.

Focus on Anti-Money Laundering (AML) and Combatting the Financing of Terrorism (CFT)

The authority has implemented a range of measures to prevent these types of activities, including:

• Registration requirements for non-licensed persons
• Ongoing supervision of regulated entities

Promoting Financial Innovation

The BMA’s Insurance Innovation team works with industry stakeholders to develop new products and services that can benefit consumers and support economic growth.

Commitment to Transparency

• Quarterly banking digest
• Regulatory updates
• Reports and statistics

These publications provide valuable insights into the financial sector in Bermuda.

Promoting Financial Awareness and Education

The BMA’s website features a range of resources, including:

• FAQs
• Publications
• Videos

Designed to help individuals make informed decisions about their finances.

Additional Resources

For more information on the BMA’s regulatory activities, visit its website at [website URL].