ÿþ<!DOCTYPE HTML PUBLIC "-//W3C//DTD HTML 4.01 Transitional//EN" "http://www.w3.org/TR/html4/loose.dtd"> <html><!-- InstanceBegin template="/Templates/aml.dwt" codeOutsideHTMLIsLocked="false" --> <head> <meta http-equiv="Content-Type" content="text/html; charset=iso-8859-1"> <!-- InstanceBeginEditable name="doctitle" --> <title>BMA - Anti-Money Laundering, Fees &amp; Penalties</title> <!-- InstanceEndEditable --> <style type="text/css" media="screen"> <!-- @import url("../css-js/topNav.css"); @import url("../css-js/level2.css"); --> </style> <!--[if IE 5]> <style> #footer {margin-top: 0;} body {text-align: center;} #masthead, #layoutwrapper, #footertext {text-align: left;} #c1{width:360px;} </style> <![endif]--> <!--[if lte IE 6]> <style> </style> <![endif]--> <!-- InstanceBeginEditable name="head" --><!-- InstanceEndEditable --> <link rel="stylesheet" href="../p7tm/p7tmBMA.css" type="text/css"> <script type="text/javascript" src="../p7tm/p7tmscripts.js"></script> <style type="text/css" media="print"> <!-- @import url("../css-js/level2-print.css"); 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Media</a></li> <li class="documentsID"><a href="../document-centre/annual-reports.asp">Document Centre</a></li><li class="qaID"><a href="../market-qa/overview.html">Market Q&A</a></li> <li class="careersID"><a href="../careers/index.html">Careers at BMA</a></li> <li class="coinsID"><a href="../notes-coins/index.html">Notes &amp; Coins</a></li> <!--[if lte IE 6]><style>#topNav2 li{height:1em;}#topNav2 ul li{float:left;clear:both;width:100%}</style><![endif]--> <!--[if IE 6]><style>#topNav2 ul li{clear:none;}</style><![endif]--> </ul> <br class="clearit" /> </div><!-- #EndLibraryItem --><div class="watermark1" id="layoutwrapper"> <div id="c1"> <div class="breadcrumb"><!-- InstanceBeginEditable name="Breadcrumb" --> <p>You are Here:&nbsp;&nbsp;<a href="../index.asp">Home</a>&nbsp;&nbsp;>&nbsp;&nbsp;Anti-Money Laundering:&nbsp;<span class="breadcrumbBold">Fees &amp; Penalties</span></p> <!-- InstanceEndEditable --></div> <!-- InstanceBeginEditable name="MainContent" --> <div class="c1Content"> <h1>Registration of Non-Licensed Persons</h1> <h3>Proceeds of Crime (Anti-Money Laundering and Anti-Terrorist Financing Supervision and Enforcement) Act 2008</h3> <p>As of the 1st January 2009 the Bermuda Monetary Authority ("BMA") is required to monitor AML/ATF regulated financial institutions for compliance with the Proceeds of Crime (Anti-Money Laundering and Anti-Terrorist Financing) Regulations 2008. The BMA is required to establish, maintain and publish a register of AML/ATF regulated financial institutions comprising "licensed persons" and "non-licensed persons." Licensed person means a person who is for the time being licensed under any of the regulatory Acts and a "non-licensed person" means an AML/ATF regulated financial institution which is not a licensed person.</p> <p>It is a requirement for "non-licensed persons" to register with the BMA if they wish to carry on business activities. The application fee for registration is $105 (Fourth Schedule to the BMA Act 1969) and must accompany the application.</p> <p>Effective 1st January 2011 all  non-licensed persons which are registered as above must pay an annual fee of $825*</p> <p>An application for registration can be made by opening the attached document and printing a hardcopy. Please complete the form and forward to the BMA, accompanied by the $105 application fee. Please forward applications to:</p> <p> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<strong>Bermuda Monetary Authority</strong><br /> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<strong>BMA House</strong><br /> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<strong>43 Victoria Street</strong><br /> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<strong>Hamilton HM12</strong><br/> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<strong>Attention: AML/ATF Compliance Unit</strong> </p> <p>Licensed persons will be deemed to be registered on the 1st January 2009 and therefore will not be required to complete the registration process.</p> <p><a href="../uploaded/New_NLP_Registration_Form 17-Jan-12.pdf" target="_blank">Download Application Form for Registration of Non-Licensed Persons</a></p> </div> <!-- InstanceEndEditable --></div> <div id="c2"> <div class="sideMenu"> <h1>Anti-Money Laundering</h1> <div id="p7TMnav"> <div><a href="supervision-regs.html">Supervision & Regulation</a></div> <div><a href="policy-guidance.html">Policy & Guidance</a></div> <!--<div><a href="../anti-money-laundering/reporting-forms-guidelines.html">Reporting Forms & Guidelines</a></div>--> <div><a href="penalties.html">Offences & Penalties</a></div> <div><a href="links.html">Useful Links</a></div> <div><a href="fees.html">Fees</a></div> <div><a href="contact-AML_ATF.html">Contact AML/ATF</a></div> </div> <div class="sideMenuBottom"><img src="../images/sideMenu_bottom.gif" alt="Menu Base" width="155" height="4"></div> </div> <br class="clearit"> <!--E-FILING LINK<div class="efiling"><a href="#"><img src="../images/l2_eFiling.gif" alt="eFiling" width="155" height="30"></a></div>--> </div> <br class="clearit"> </div> <div id="footer"> <div id="footertext">&copy; Copyright 2008. 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