Regulations in Bermuda
Below is an article about recent hedge fund and investment regulations put in place in Bermuda. This has been added to our Hedge Fund Guide to Bermuda.
Two new legislations were introduced in Bermuda January 1, requiring regulated financial institutions to comply with various obligations under the recently updated legislative framework, according to Cayman Islands law firm Conyers Dill & Pearman.
The firm said that the updated legislation defines ‘Financial Institutions’ as persons who, among other things, carry on the business of a ‘fund administrator’, or are ‘operators’ of investment funds.
The BMA expects Financial Institutions, under its supervision, to address their management of the relevant risks in a thoughtful and considered way, and to establish and maintain systems and procedures which are appropriate and proportionate to the risks identified. source
Read more about hedge fund activity in Bermuda within our Hedge Fund Guide to Bermuda.