BMA: Bermuda Approved As AIFMD Signatory
The Bermuda Monetary Authority announced that Bermuda is approved as a signatory for the cooperation agreement with EU member States in relation to the Alternative Investment Fund Managers Directive [AIFMD].
ESMA has approved co-operation agreements between securities regulators from the 27 EU Member States and the European Economic Area, and 34 of their global regulatory counterparts including the Bermuda Monetary Authority.
“This re-affirms Bermuda’s position in terms of satisfying the core conditions under the AIFMD as a third country,” said Jeremy Cox, CEO of the Authority. “Bermuda remains a solid opportunity for Bermudabased funds and fund managers looking to conduct business in Europe after the AIFMD is implemented as of 22nd July 2013.”
