The Standard Formula Podcast | Bermuda Monetary Authority Proposes Enhancements to its Regulatory Regime
The GENIUS Act marks a major milestone in US digital asset regulation, particularly for stablecoins. Jurisdictions like Bermuda, the British Virgin Islands (BVI) and the Cayman Islands are well-placed to meet increasing...more
Bermuda's new trade mark legislation has come largely into effect, significantly modernising Bermuda's existing trade mark laws. The law introduces a new broader definition of "trade mark", providing scope for a wider...more
With the Personal Information Protection Act 2016 (PIPA) now in full effect (from 1 January 2025), individuals have new rights, including the right to access personal information held by organisations about them. Requests can...more
Bermuda, the British Virgin Islands (“BVI”) and the Cayman Islands have each introduced data protection regimes in recent years which align with global data protection standards. It is therefore increasingly important for...more
The Bermuda Government passed a new trade marks legislation, the Trade Marks Act 2023 which is expected to be enacted in early 2025. The new Act closely mirrors the UK Trade Marks Act 1994 (as amended), and seeks to...more
Bermuda is enhancing its banking legislation to make it attractive to new banks – particularly those wishing to provide services to Fintech companies. The new 'restricted banking' license makes it easier to set up in...more
In a landmark move on 27 December 2023 the Bermuda Government took a significant step by adopting the Corporate Income Tax Act 2023 (the “CIT Act”), a pivotal piece of legislation that promises to reshape the island’s...more
As we enter 2024 the myriad of regulatory changes can appear overwhelming. We are here to help and have set out below some key changes and issues that can impact Bermuda entities. Bermuda has introduced a corporate income tax...more
With Data Privacy Day occurring internationally on 28 January, 2024, it seems a good time to issue our Data Privacy Bulletin for 2024. 2023 was an eventful year for the Office of the Privacy Commissioner (PrivCom), and a...more
After a seven-year wait, the Bermuda Government has announced that the remaining sections of the Personal Information Protection Act 2016 (PIPA) will come into full force on 1 January 2025. To date, only limited sections of...more
On 2 March 2022, the Senate passed legislation aimed at reducing the stress and cost of obtaining a divorce by introducing “no-fault divorce” to Bermuda. This legislation will be the first of a “raft” of reforms that aim to...more