This paper sets out the Authority´s fee proposals for 2010. It covers those entities that are licensed or exempted under the various regulatory Acts and those that are registered under the Proceeds of Crime Regulations (Supervision & Enforcement) Act 2008.

This paper sets out the Bermuda Monetary Authority’s approach to consultation and the principles that will govern the Authority’s consultation with stakeholders to ensure that the consultative process is both efficient and effective. The Authority recognises the importance of transparency, and believes that stakeholder participation is critical to sound policy development and implementation.

This consultation paper sets out the Authority’s proposals to improve and enhance the Corporate Registration Process in Bermuda.The Authority welcomes comments from interested parties, which should be submitted to the Authority on or before 31 January 2009.

Under the provisions of the Anti-Money Laundering and Anti-Terrorist Financing (Supervision and Enforcement) Bill 2008 the Authority is charged with the duty to effectively monitor financial institutions for compliance with the proposed Proceeds of Crime (Anti-Money Laundering and Anti-Terrorist Financing) Regulations 2008. Following preliminary consultation on the Bill with industry it was agreed that the Authority will not levy a separate fee on licensed firms for AML/ATF supervision but will revise existing fee levels to accommodate the costs of our new responsibilities. This document outlines the Authority´s proposed fees for 2009. Please forward any comments to Mr. Alan Cleave, Senior Officer Legal Services and Enforcement at acleave@bma.bm

Under the provisions of the Anti-Money Laundering and Anti-Terrorist Financing (Supervision and Enforcement) Bill 2008 the Authority is charged with the duty to effectively monitor financial institutions for compliance with the proposed Proceeds of Crime (Anti-Money Laundering and Anti-Terrorist Financing) Regulations 2008. The Bill also makes provisions for the Authority to issue a statement of principles in relation to the exercise of certain powers. This paper outlines the Authority´s proposed supervisory procedures and a draft statement of principles which have been circulated to industry groups for comment and feedback by the end of September. Please forward any comments to Mr. William Kattan, Director Legal Services and Enforcement at wkattan@bma.bm

The National Anti-Money Laundering Committee in collaboration with the Ministry of Finance, the Ministry of Justice and the Bermuda Monetary Authority has issued draft legislation relating to anti-money laundering and counter terrorist financing, and related documentation, for consultation and comment by June 10. Comments can be forwarded to the National Anti-Money Laundering Committee c/o Mrs. Cheryl Lister-Ann Lister at clister@gov.bm and copied to Mr. Anthony Manders at amanders@gov.bm