The BMA has released its 2023 Annual Report. Read it today via the following link: https://lnkd.in/efJHRNUd #BMAPublication #AnnualReport #BMA #Bermuda #FinancialRegulation #FinancialServicesRegulator #BermudaMonetaryAuthority
Bermuda Monetary Authority
Financial Services
The Bermuda Monetary Authority regulates Bermuda's financial services sector.
About us
The Bermuda Monetary Authority (the Authority or BMA) regulates Bermuda's financial services sector. 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, digital asset businesses, money service businesses, corporate service providers and insurance companies. It also regulates the Bermuda Stock Exchange and Bermuda Credit Union. 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, corporate service providers and insurance companies. It also regulates the Bermuda Stock Exchange.
- Website
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http://www.bma.bm
External link for Bermuda Monetary Authority
- Industry
- Financial Services
- Company size
- 51-200 employees
- Headquarters
- Hamilton
- Type
- Government Agency
- Founded
- 1969
- Specialties
- Corporate Service Provider, Insurance, Reinsurance, Anti-Money Laundering, Anti-Terrorist Financing, Investment, Banking, Trust, and Regulation
Locations
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Primary
BMA House
43 Victoria Street
Hamilton, HM 12, BM
Employees at Bermuda Monetary Authority
Updates
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#SaveTheDate Enhance your compliance strategy and expertise by attending the Digital Asset Business (DAB) AML/ATF Outreach Session! Gain insights on Bermuda Legislation, ML/TF Sectoral Trends and SAR reporting. This outreach event targets Compliance Officers, Money Laundering Reporting Officers, service providers and consultants responsible for compliance with Bermuda’s AML/ATF framework and the DAB regime. Board members and Senior Management within the sector are also encouraged to attend. #DAB #AMLATFOutreach #MLRO #Compliance
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Meet Christian a brilliant middle schooler from Warwick Academy who made a remarkable impact during his two days with our Data Science and Artificial Intelligence team. His distinctive approach to learning and thinking stood out as he effortlessly grasped Excel Analysis, impressing Grace and Malvica with his swift understanding. Christian’s knack for recalling complex terms and ability to connect his analysis to how it can impact the industry and the BMA is something we do not usually see in students his age. Malvica and Grace mention, “Christian’s keen intellect and quick learning were impressive, much like a skilled midfielder. He quickly showed the confidence of a true team player. Christian’s passion for learning and exploring, combined with dedication to what he loves, will undoubtedly propel him to great success.” They encourage Christian to keep embracing opportunities—every step counts—as they are sure he’ll score big in all his future endeavours. #DataScience #AcutrialScience #Supervision #SummerStudent #FutureLeader #STEMCareers
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Did you miss our Corporate Service Provider (CSP) Anti-Money Laundering/Anti-Terrorist Financing (AML/ATF) outreach training in May? No Problem! We launched a recap of our AML/ATF - CSP session in a convenient video for you to watch at your own pace! Here is what we covered: - Understanding prudential issues and expectations - Identifying Money Laundering (ML) and Terrorist Financing (TF) risks and mastering AML obligations - Staying updated on the latest supervisory and ML/TF trends - Becoming a pro at SAR reporting - Understanding the Bermuda Monetary Authority’s enforcement powers and processes We are committed to providing industry professionals with the necessary tools to enhance their daily work! Click the following link to view the session: https://lnkd.in/e5ZdriJQ Want more? Be sure to join our YouTube community by subscribing to the BMA’s channel so you are notified when we release more informative videos like these! Click the following link to subscribe: https://lnkd.in/e6cvf3n5 #YouTubeVideo #BMAOutreach #Supervision #CSP #CorporateServices #Reporting #AML/ATF
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Yesterday’s meeting with the NAIC was a success. The session kicked off with an educational deep dive into long-term and P&C topics, followed by a presentation on catastrophe modelling. The day’s activities set the stage for an insightful dialogue that fostered collaboration and innovation for both representatives from the BMA and NAIC. We would like to extend a big thank you to the NAIC and BMA Teams for their continued efforts within the financial services sector. #NAIC #BMA #InsurancePolicy #Supervision #FinancialRegulation
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#BMAInsights For today’s BMA Insights, we have some food for thought. Behind each of the BMA’s Supervisory Teams are experienced individuals and subject matter experts dedicated to contributing to the protection of Bermuda’s financial services sector. How do we do this? Even though the BMA is the sole financial regulator in Bermuda, we engage with over 50 global regulators and locally regulated entities to provide guidance and create frameworks to protect Bermuda’s financial stability. We actively participate in and contribute to various international engagements and committees, which helps broaden our global regulatory knowledge and enrich our supervisory regime as a world-class, innovative regulator. Want to learn more? Visit our website to see how we engage and collaborate with other associations in Bermuda and around the world! https://lnkd.in/euY3PQ4g Be sure to follow us to learn more. #Supervision #RiskAssessments #DataAnalysis #InternationalEngagement #FinancialRegulation #GlobalRegulators
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The BMA confirmed four insurance registrations for the month of June; a Class E Insurer, a Restricted Special Purpose Insurer, a Broker and and an Insurance Manager. To view a full summary of this month’s registration statistics, visit our website via the following link. http://ow.ly/H0AJ50HVLWS
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Our mission is to assist in Bermuda’s financial stability, safeguard financial services customers and secure our national currency. We have a team of dedicated experts who drive this mission by implementing frameworks that optimise our supervisory regulations and regimes. This creates opportunities to foster innovation both locally and globally. Learn more about our regulatory regime and risk-based frameworks by visiting our website today. Click here to learn more: https://lnkd.in/eSNKUVtR #FinancialStability #FinancialServices #currency #BMAMission #BMAVision #Frameworks #Regulation #Supervision
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Let us recognise Jamie Colmet, a Junior Saltus Grammar School student, who recently completed her work shadow experience with the BMA. From diving into the world of supervision to exploring the cutting-edge technology of data science and Artificial Intelligence, she enthusiastically embraced every moment. Shadowing various teams, Jamie gained valuable knowledge about the inner workings of the Authority. Jamie left the experience feeling inspired and ready to tackle new challenges. She encourages fellow students to always embrace new opportunities and never stop learning. Armed with a clearer path in mind for her future, Jamie is grateful for the invaluable exposure she gained at the BMA and looks forward to her senior year at Saltus. Hats off to the BMA Teams who fostered this initiative and for providing Jamie with a glimpse into a potential career path.
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At the core, we are dedicated to upholding standards of integrity and responsibility within the financial services sector. As a globally respected and trusted financial regulator, we focus on developing and implementing solutions that protect customers within the financial services sector. As Bermuda’s only financial regulator, we endeavour to be a globally respected and trusted organisation that continues to provide prudent supervision while contributing to Bermuda’s financial stability. #FinancialStability #FinancialServices #Currency #BMAMission #BMAVision #Frameworks #Regulation #Supervision
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