Hashtag: #BermudaMonetaryAuthority
BMA Revokes Phoenix Law Chambers’ Licence
The Bermuda Monetary Authority has revoked the corporate service business provider licence of Phoenix Law Chambers. The BMA said, “The Bermuda Monetary Authority [Authority] has revoked the corporate service business provider Licence of Phoenix Law Chambers [PLC], a Corporate Service Provider [CSP], for breaches of the Corporate Service Business... Read more of this article
BMA Provides Update: Holding Board Meetings
“The Authority expects registrants to continue to conduct regular board meetings by telephone, video conference, or other virtual means, where it is not practical to meet physically during this period,” the Bermuda Monetary Authority said. A spokesperson said, “The Bermuda Monetary Authority [Authority or BMA] recognises that COVID-19... Read more of this article
BMA Appoint Ricardo Garcia & Marcelo Ramella
The Bermuda Monetary Authority announced the appointment of Ricardo Garcia as Vice-Chair of the IAIS Policy Development Committee, and Marcelo Ramella as Vice-Chair to the Macroprudential Committee. A spokesperson said, “The Bermuda Monetary Authority announced today the appointment of two of its staff to International Association of Insurance... Read more of this article
BMA Issue Public Censure To Blue Nile Services
The Bermuda Monetary Authority has issued a “Public Censure” to Blue Nile Services Limited. A spokesperson said, “The Bermuda Monetary Authority [Authority] has issued a Public Censure to Blue Nile Services Limited (Company), a money service business provider, for a number of breaches of the Proceeds of Crime (Anti-Money Laundering... Read more of this article
Advisory: Website/Emails Falsely Linked To BMA
The Bermuda Monetary Authority [BMA] has advised that anyone who receives an email from the domain www.bmafinancier.com to “ignore its contents and to report it to the Bermuda Police Service.” A spokesperson said, “The Bermuda Monetary Authority [BMA] has been made aware that an internet domain has been registered in the name of www.bmafinancier.com. “While... Read more of this article
BMA Advisory On Holding Board Meetings
“The Authority expects registrants to continue to conduct their board meetings virtually, by telephone, video conference or other virtual means, where it is not practical to meet physically during this period,” the Bermuda Monetary Authority said. A spokesperson said, “The Bermuda Monetary Authority [Authority] recognises that COVID-19 continues... Read more of this article
Monetary Authority Appoints Gerald Gakundi
The Bermuda Monetary Authority announced the appointment of Gerald Gakundi to the position of Director, Supervision [Insurance]. “Mr. Gakundi has more than 15 years’ experience in the insurance industry. After joining the Authority in 2010 as Assistant Director, Supervision [Insurance], he was subsequently promoted to Deputy Director. He has... Read more of this article
ICO Decision On Bermuda Monetary Authority
Information Commissioner Gitanjali Gutierrez issued Decision 08/2020 in regards to the Bermuda Monetary Authority [BMA]. A spokesperson said, “Information Commissioner Gitanjali Gutierrez issued Decision 08/2020, Bermuda Monetary Authority [BMA], involving a PATI request for records related to the BMA’s staff recruitment plans. The BMA refused access... Read more of this article
Financial Policy Council On Economic Recovery
The Financial Policy Council [FPC] held its fourteenth meeting on July 23rd via teleconference, with the members highlighting “that a comprehensive Economic Recovery Plan should be put in place as a matter of urgency.” A Government spokesperson said, “The Financial Policy Council [FPC] held its fourteenth meeting on 23 July 2020 via teleconference.... Read more of this article
Monetary Authority Release 2019 Annual Report
The Bermuda Monetary Authority released its 2019 Annual Report, reflecting on its five decades of service to Bermuda’s financial sector & highlighting the achievements of its 50th Anniversary year. Jeremy Cox, Executive Chair, says, “It was a year in which we reinforced our commitment to the Authority’s value proposition by rolling up our... Read more of this article
BMA: Hold Virtual Meetings When Cannot Meet
“The Authority expects registrants to continue to conduct their board meetings virtually, by telephone, video conference, or other virtual means, where it is not practical to meet physically during this period,” the Bermuda Monetary Authority said. The BMA said, “The Bermuda Monetary Authority [Authority] recognises the significant... Read more of this article
BMA Continues Phased Reopening Of Offices
As the Bermuda Monetary Authority [BMA] continues its phased return to its physical offices, it continues “to comply with the Government’s health guidelines and safety precautions, such as physical distancing and hygiene protocols.” The BMA said, “The Bermuda Monetary Authority [Authority or BMA] has been operating on a fully remote... Read more of this article
Digital Survey Technology Public Consultation
The Bermuda Monetary Authority [BMA] is issuing the proposed Digital Asset Issuance Statement of Principles & Digital Asset Issuance Rules 2020 for public consultation. The BMA said, “Following the enactment of the Digital Asset Issuance Act 2020 [Act], the Bermuda Monetary Authority [Authority] is issuing the proposed Digital Asset Issuance Statement... Read more of this article
Compre Receives Class 3A Reinsurer Licence
Compre announced that it has received regulatory approval from the Bermuda Monetary Authority [BMA] to establish a Class 3A reinsurer in Bermuda. A spokesperson said, “Compre, the independent specialist legacy acquirer, today announces it has received regulatory approval in principle from the Bermuda Monetary Authority [BMA] to establish a Class... Read more of this article
BMA: QS International Limited Is Not Licensed
The Bermuda Monetary Authority [BMA] is advising the public that QS International Limited “is not regulated, authorised or licensed by the Authority.” The BMA said, “On 6 June 2020, the Bermuda Monetary Authority observed that QS International Limited on its webpage qsfingold.com falsely claimed that it had been licensed by the Authority... Read more of this article
BMA Grants Class 3A Insurer Licence To Evertas
Evertas, a cryptoasset insurance company announced that is has received its license from the Bermuda Monetary Authority to start operating as a ‘Class 3A’ insurer. A spokesperson said, “Evertas, one of the world’s first cryptoasset insurance companies, has received its licence from the Bermuda Monetary Authority to start operating from... Read more of this article
