PATI REQUESTS MAY BE SENT TO THE AUTHORITY VIA E-MAIL AT: PATI@BMA.BM
Bermuda Monetary Authority (Authority) is Bermuda’s financial services regulator. Established under the Bermuda Monetary Authority Act 1969, the Authority supervises, regulates and inspects all financial institutions operating from within Bermuda.
The Authority also: issues Bermuda’s national currency; manages exchange control transactions; assists other authorities with the detection and prevention of financial crime; and advises Government and other public bodies on financial services and monetary matters.
The Authority develops risk-based financial regulations that it applies to the supervision of Bermuda’s banks, trust companies, investment businesses, investment funds, fund administrators, money service businesses, insurance companies, credit unions and digital asset businesses. It also regulates the Bermuda Stock Exchange.
To protect and enhance Bermuda’s reputation and position as a leading international financial centre, utilising a team of highly skilled professionals acting in the public interest to promote financial stability, safeguard Bermuda’s currency and provide effective and efficient supervision and regulation.
The Authority is the island’s financial services regulator and is responsible for the regulation and supervision of Bermuda’s banks, trust companies, investment businesses, investment funds, fund administrators, money service businesses, corporate service providers, digital asset businesses, credit unions and insurance companies. The Authority also regulates the Bermuda Stock Exchange and Credit Union, and is responsible for issuing and redeeming Bermuda’s currency, managing exchange control and transactions in foreign currency or gold.
The Authority holds a variety of internal records, with many of these documents having confidential security classifications, i.e. financial services company filings. Other records comprise documentation used in the supervision of Bermuda’s financial services sector including reviews, summaries, financial stability assessments and supporting information; personnel files and administration files; documents relating to the Authority’s (i) Legal Services and Enforcement function; (ii) exchange control and currency functions; and (iii) Communications Department functions. Such records have security classifications of restricted, private, or general, as appropriate.
The Authority holds a number of Codes of Practice, Codes of Conduct, Policies and Procedures, Employee Handbook, Consultation Papers, Information Bulletins, Statement of Principles and Guidance Notes.
The Authority has a number of internal-policies and procedures and internal committees in place which it uses to make decisions relating to licensees that it supervises and regulates.
For a detailed account of the Authority’s Financials, please see the link to the Authority’s Annual reports in Section H above.
Every public authority shall update its information statement at least once a year.
Date Information Statement was updated: 26 November 2019
Locations of Information Statement