Bermuda Monetary Authority

The Bermuda Monetary Authority is the financial regulatory agency for Bermuda

Bermuda

Bermuda is a British overseas territory in the North Atlantic Ocean. Located off the east coast of the United States, its nearest landmass is Cape Hatteras, North Carolina, about to the west-northwest. It is about south of Halifax, Nova Scotia, Canada, and northeast of Miami, Florida...

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It is responsible for the licensing of companies proposing to carry on the business of deposit taking (banks and deposit companies), insurance, trusts, investment funds, money service, and investment business in Bermuda; the issue and redemption of Bermuda notes and coins, regulation and supervision of Bermuda's financial institutions; providing advice and recommendation to the Bermuda Government (as required) on issues affecting insurance, banking and other financial and monetary matters; and vets and conducts due diligence on individuals and entities proposing to set up corporate entities in Bermuda (and in relation to further issuances and transfers of Bermuda company securities); it also assists in combatting anti money laundering and anti-terrorist finance activities of entities in Bermuda.