Bermuda Signs AIFMD Cooperation Agreement
The Bermuda Monetary Authority confirmed today [July 19] that it has signed the co-operation agreement with European Union [EU] Member States in relation to the Alternative Investment Funds Managers Directive [AIFMD]. Now new and existing Bermuda-based funds and fund managers can continue to seamlessly conduct business with the European market.
Jeremy Cox, CEO of the Authority said, “We are pleased to finalise our agreements with the EU Member States under the AIFMD. This is the result of a concerted effort by the Bermuda team, led by Shauna MacKenzie, our Director of Policy, Legal and Enforcement at the Authority.
“The ongoing work on this initiative also involves a legislative review of our regime and appropriate adaptations in relation to the oversight of Bermuda-based investment managers. This work will ensure that investment managers may fully participate in European markets from Bermuda and reinforces our position as a competitive jurisdiction for the global funds sector.”
