The Bermuda Monetary Authority (“BMA”), the Office of the Privacy Commissioner (“PrivCom”), and the Ministry of Finance have issued key regulatory updates for the fourth quarter of 2024. This update provides an overview of developments across financial sanctions, anti-money laundering and counter-terrorist financing (“AML/ATF”), corporate service provider regulations, digital asset business requirements, and corporate income tax (“CIT”). Notable highlights include amendments to financial sanctions, consultations on digital asset regulations, updates on beneficial ownership disclosure, and the full implementation of the Personal Information Protection Act (“PIPA”) on January 1, 2025. Deadlines for upcoming filings and fee submissions for Q1 and Q2 2025 are also outlined.
Click below to download the Bermuda regulatory update Q4 2024 and ensure you stay informed of these critical changes.
