Hashtag: #BobRichards

FATCA Intergovernmental Agreement Update

FATCA Intergovernmental Agreement Update

Minister of Finance Bob Richards confirmed this week that under the Bermuda-UK FATCA Intergovernmental Agreement [IGA] model 2, Bermuda and the UK have agreed the inclusion of a Limited Capacity Exempt Beneficial Owner Category in Annex II of the IGA. The effect of this amendment will mean that there will be no obligation for Bermuda financial institutions... Read more of this article

Minister Richards Meets UK Foreign Secretary

Minister Richards Meets UK Foreign Secretary

The Minister of Finance Richards, attended the Foreign Secretary’s Diplomatic reception on Tuesday 17th June at Lancaster House in London. While there the Minister had the opportunity to have discussions with the UK Foreign Secretary William Hague. Minister Richards and Foreign Secretary Hague Related Stories Finance Minister Attends Anti-Corruption... Read more of this article

‘Imperative’ Bermuda Have Contacts With France

‘Imperative’ Bermuda Have Contacts With France

Following his recent visit to Paris and Brussels, Finance Minister Bob Richards said that the meetings were “beneficial as we were able to dispel many misconceptions the French officials had about Bermuda.” “However, nothing that we said really changed their minds that Bermuda was “Un paradis fiscale” – a tax haven,”... Read more of this article

Bob Richards Named New Deputy Premier

Bob Richards Named New Deputy Premier

Premier Michael Dunkley announced today that he has appointed Minister of Finance Bob Richards as the Deputy Premier. Premier Dunkley said this morning, “I am pleased to appoint Minister Richards as Deputy Premier. “We certainly have a wealth and depth of talent among our team, and I am gratified at the level of support expressed by my colleagues... Read more of this article

Minister: Bermuda’s ‘Dominant’ RIMS Presence

Minister: Bermuda’s ‘Dominant’ RIMS Presence

Minister of Finance Bob Richards spoke today [May 9] in the House of Assembly about Government’s recent attendance at the RIMS convention in Colorado, describing Bermuda’s presence as “dominant.” Minister Richards said, “On April 28 and 29, the Premier, accompanied by the Minister of Education and Economic Development and myself,... Read more of this article

Premier, Minister Richards In London For Talks

Premier, Minister Richards In London For Talks

Premier Craig Cannonier is in London this week to resume talks with Islamic Finance stakeholders at the Global Islamic Finance and Investment Group [IFIG] Conference. He is accompanied by the Minister of Finance Bob Richards and the Secretary to the Cabinet Dr. Derrick Binns. The Cabinet Office said, “While in London he will also engage in a number... Read more of this article

Minister Richards On Public Bodies Reform Act

Minister Richards On Public Bodies Reform Act

Minister of Finance Bob Richards provided an update on the status of the Public Bodies Reform Act on Friday [Mar 21] in the House of Assembly. The Minister said “significant progress” has been made on this initiative, and that as part of the consultative process, a “for discussion’ draft of this Bill will be provided to key stakeholders... Read more of this article

Minister On 2013 Consolidated Fund Statements

Minister On 2013 Consolidated Fund Statements

Minister of Finance Bob Richards tabled audited financial statements relating to the Consolidated Fund for the year-ended March 31, 2013 in the House of Assembly today [Mar 21]. The Consolidated Fund is the general operating fund of the Bermuda Government and is the Fund through which Government conducts the majority of its transactions. Minister... Read more of this article

Report Questions Richards, Sousa’s Eligibility

Report Questions Richards, Sousa’s Eligibility

A Parliamentary Select Committee on elections has questioned whether the election of Minister Bob Richards and MP Jeff Sousa are “legally valid”, and recommended that “Parliament act to bring clarity on the eligibility of the Hon members Richards and Sousa to continue to sit in Parliament.” This Select Committee was established... Read more of this article

BTOA President Responds To Minister Richards

BTOA President Responds To Minister Richards

Following his recent public plea to the Bermuda government and an appearance by Minister Bob Richards on the television show Let’s Talk on Monday night, Derek Young, president of the Bermuda Taxi Owners and Operators [BTOA], has responded to the Minister’s comments. Mr. Young said, “On behalf of the taxi industry I would like to respond... Read more of this article

Finance Minister: “Status Quo Is Not An Option”

Finance Minister: “Status Quo Is Not An Option”

Bermuda is seeing a “fragile” economic recovery that could be “easily derailed”, Finance Minister Bob Richards said at the Chamber of Commerce’s Annual Budget Breakfast today [Feb 24]. The event was sponsored by PwC Bermuda, and in a panel moderated by PwC Bermuda CEO Darren Johnston, Minister Richards was joined by Peter Everson, the President... Read more of this article

Willis Re Welcomes New CEO Michael Harden

Willis Re Welcomes New CEO Michael Harden

On Tuesday, February 18, Willis Re held a cocktail party to welcome the new CEO of Willis Re Bermuda, Michael Harden, to the island. Guests of honour at the party were Bermuda Premier Craig Cannonier, along with the Minister of Home Affairs Michael Fahy, the Minister of Education and Economic Development Dr. Grant Gibbons, the Minister of Finance Bob... Read more of this article

Live Blog: Finance Minister Delivers 2014 Budget

Live Blog: Finance Minister Delivers 2014 Budget

Finance Minister Bob Richards is set to deliver the 2014 Budget in the House of Assembly this morning [Feb 21], which will set out the Government’s financials plans for the upcoming fiscal year. This will be the second budget devised by Minister Richards on behalf of the One Bermuda Alliance Government, who took control following their 19-17 victory... Read more of this article

Minister Comments: Chinese Business Reports

Minister Comments: Chinese Business Reports

Minister of Finance Bob Richards today responded to recent news stories about beneficial ownership information that was last year hacked from two of the BVI’s numerous incorporation agencies. Minister Richards noted that numerous international news agency articles circulating this week regarding Chinese persons related to the BVI incorporation... Read more of this article

Ministry: Successful Completion Of $50M Bond

Ministry: Successful Completion Of $50M Bond

The Ministry of Finance today [Dec 19] announced the successful completion of a BD$50 million local bond offering. This summer the Government raised $750 million in 10-year bonds at a yield of 4.85%, and said they would borrow another $50 million in local dollars. Earlier this week, the Bermuda Stock Exchange announced the approval of the listing of... Read more of this article

Finance Minister On Concept Of Mutualisation

Finance Minister On Concept Of Mutualisation

Mutualisation sees Government services spun off into a separate entity with the staff moving to the new entity as employees and shareholders, Finance Minister Bob Richards said today [Dec 12]. Minister Richards said, “As the Premier has stated this debate on the SAGE report will launch the government’s public consultation process. Admittedly... Read more of this article