A new licensing regime for digital identity service providers is to be introduced in Bermuda.
The new licensing regime should pave the way for a smoother CDD journey for consumers, without compromising Bermuda's high...more
The Bermuda Monetary Authority ("BMA") has issued an invite for proposals from voluntary participants to take part in a pilot project aimed at testing Embedded Supervision practices within the context of DeFi.
Embedded...more
In response to the increasing interconnectedness of financial service providers across global networks, the BMA is proposing to implement a new Operational Resilience and Outsourcing Code for regulated entities across all...more
Since the announcement of its Fintech strategy in November 2017, the Bermuda government has positioned Bermuda as a market-leading jurisdiction with respect to Fintech, with a view to Bermuda operating as an innovation hub...more
9/25/2024
/ AML/CFT ,
Artificial Intelligence ,
Bermuda ,
Compliance ,
Cryptocurrency ,
Digital Assets ,
FinTech ,
Fund Managers ,
Insurance Industry ,
Investment Funds ,
Know Your Customers ,
Machine Learning ,
Regulatory Requirements ,
Risk Assessment
The Personal Information Protection Act ("PIPA") comes into full force on 1 January 2025. All organisations in Bermuda are expected to be in compliance with it by that date – time is running out!
The Privacy Commissioner...more
8/6/2024
/ AML/CFT ,
Bermuda ,
Compliance ,
Data Collection ,
Data Retention ,
Due Diligence ,
EU ,
General Data Protection Regulation (GDPR) ,
Liquidation ,
Personal Information ,
Personal Information Protection Act ,
Policies and Procedures ,
Privacy Notice Rule ,
Regulatory Requirements ,
Third-Party Service Provider ,
Training ,
UK