The Economic Substance Act 2018 (the “Act”) requires Bermuda-based entities that are carrying on a “relevant activity” in a relevant financial period and entities claiming “non-resident entity” status under the Act to file an...more
5/30/2025
/ Banking Sector ,
Bermuda ,
Business Entities ,
Compliance ,
Corporate Governance ,
Economic Substance Doctrine ,
Filing Deadlines ,
Filing Requirements ,
International Tax Issues ,
Offshore Funds ,
Regulatory Agenda ,
Regulatory Requirements ,
Reporting Requirements
An old adage says that the only things in life that are certain are death and taxes. We think regulatory changes can surely be added to that list. A number of regulatory updates will affect Bermuda entities this year, and we...more
4/3/2023
/ Beneficial Owner ,
Bermuda ,
Code of Conduct ,
Companies Act ,
Corporate Governance ,
Cybersecurity ,
Economic Sanctions ,
Economic Substance Doctrine ,
EU ,
FATF ,
Investment ,
Investment Companies ,
New Regulations ,
Personal Information Protection Act ,
PIPA ,
Regulatory Agenda ,
Regulatory Requirements ,
Risk Management ,
Russia ,
Sanctions ,
UK
The Bermuda Monetary Authority published the revised Operational Cyber Risk Management Code of Conduct (the “Cyber Risk Code”) for corporate service providers, trust companies, money services businesses, investment...more
2/10/2023
/ Bermuda ,
Board of Directors ,
Chief Information Security Officer (CISO) ,
Compliance ,
Corporate Governance ,
Corporate Management ,
Cybersecurity ,
Deadlines ,
Enforcement ,
Financial Institutions ,
Financial Services Industry ,
Policy Updates ,
Risk Controls ,
Risk Management