Bermuda Hedge Funds Update

Anthony D. Whaley • Posted 01/04/2010 • Under Articles

The Bermuda Monetary Authority is responsible for the licensing, supervision and regulation of financial institutions, including those that conduct investment fund business, in Bermuda. The BMA encourages high standards of compliance and works with the government and industry professionals to ensure that Bermuda's reputation as a quality international financial centre is protected. The BMA has been an ordinary (full) member of the International Organization of Securities Commissions (“IOSCO”) since 2005. This membership is important to the financial services industry in Bermuda as it enables doors to be opened to some international markets that might otherwise be closed to direct investment by Bermuda funds, e.g. India.

The Bermuda government has now passed a series of legislative amendments to improve the efficiency of international business in Bermuda.