The Bermuda Monetary Authority’s (the
Authority) consultation papers for banks and deposit companies are provided in
Papers’ section of the Authority’s website.
The Authority publishes consultation
papers to: a) indicate to industry what the Authority is proposing to
implement; b) obtain feedback from industry on the proposals; and c) to explain
the outcomes the Authority is seeking. Once the consultation process is
finalised, and relevant comments have been reviewed, the Authority may issue a
notice to respond to the consultation comments. . Such consultation facilitates
input from the market in parallel to ensuring that any proposed regulatory
changes will be effective and consistent with international standards.