Bermuda: Financial Services

George McCallum, Karim Creary, and Jarion Richardson examine Bermuda's anti-money laundering framework for Digital Asset Business Act licence applications, exploring the policies, procedures, and governance structures that applicants must establish. The discussion reveals common pitfalls in AML programme preparation and explains how the Bermuda Monetary Authority evaluates compliance effectiveness.

Bermuda's investment funds regime provides sponsors with a sophisticated regulatory framework that balances flexibility with investor protection. From registered private funds to authorised retail vehicles, the jurisdiction accommodates diverse strategies through multiple structural options including SACs, ISACs, and traditional partnerships. Understanding the classification system, ongoing compliance requirements, and the interplay between fund regulation and investment business licensing is essential for

Bermuda operates a highly integrated regulatory architecture under which the Bermuda Monetary Authority (BMA) exercises consolidated oversight across insurance, banking, investment business and funds, trusts, corporate service providers, money services and digital asset activity.