The Standard Formula Podcast | Bermuda Monetary Authority Proposes Enhancements to its Regulatory Regime
On 20 January 2026, the Bermuda Monetary Authority (“BMA”) appeared at the Bermuda Captive Network’s half-day education summit, speaking on what is required to make a meaningful captive licence application and reminding...more
On 21 January 2026, the Bermuda Monetary Authority (BMA) released a consultation paper (Consultation Paper) proposing the introduction of a new category of special purpose insurance called the parametric special purpose...more
The Beneficial Ownership Amendment Act 2025 came into effect on 30 December 2025, introducing changes to the Beneficial Ownership Act 2025 (the “Act”); these changes are as follows....more
We have contributed the Bermuda chapter to the International Employment Lawyer's guide to workplace investigations, which examines key issues that organisations need to consider as they initiate, conduct and conclude...more
It’s a tale as old as time: A U.S. insurance broker wants to place bespoke coverage for its U.S. client. Sometimes, it’s a layer within a commercial tower. Perhaps there are some participating admitted (licensed) U.S....more
Regulatory clarity in the digital assets and crypto space continues to be a moving target. Yet, the interest among policymakers and regulators worldwide has never been more pronounced....more
Briefing Summary: The Beneficial Ownership Act 2025 (the “BO Act”) received Royal Assent on 28 September 2025 and is anticipated to come into force on or around 3 November 2025. The BO Act replaces the previous beneficial...more
It is anticipated that the BOA, along with related regulations and guidance, will come into force on 3 November 2025. The BOA makes a number of changes to Bermuda's beneficial ownership regime, including expanding its...more
In the rapidly evolving world of digital assets, Bermuda has emerged as a leading jurisdiction for innovative blockchain projects and institutional-grade regulation. In this interview for HashPoint Advisory, Carey Olsen...more
Bermuda's proposed new licensing regime for digital identity service providers (DISPs) has been further refined and updated, with five licensable activities reduced to two. The development of the DISP regime commenced...more
A new licensing regime for digital identity service providers is to be introduced in Bermuda. The new licensing regime should pave the way for a smoother CDD journey for consumers, without compromising Bermuda's high...more
This chapter provides the latest legal information on Bermuda's fintech market and regulation, including regulatory jurisdiction, sandboxes, AML rules and FATF standards; robo-advisers, online lenders and payment processors;...more
On the heels of the publication by the International Association of Insurance Supervisors (IAIS) of a draft consultation paper analysing the structural shifts in the life insurance sector to increase allocations to...more
The Bermuda Monetary Authority ("BMA") has issued an invite for proposals from voluntary participants to take part in a pilot project aimed at testing Embedded Supervision practices within the context of DeFi. Embedded...more
This chapter discusses the Bermudian prudential solvency regime. Bermuda rose to prominence in the insurance and reinsurance industries in the late 1960s and early 1970s, largely due to its pioneering work in the...more
The world of finance has been turned on its head. Digital Assets and distributed ledger technology, once the realm of tech enthusiasts, are now capturing the attention of institutional investors. We are witnessing a profound...more
In response to the increasing interconnectedness of financial service providers across global networks, the BMA is proposing to implement a new Operational Resilience and Outsourcing Code for regulated entities across all...more
Regulatory clarity in the digital assets and crypto space continues to be a moving target. Yet, the interest among policymakers and regulators worldwide has never been more pronounced. In the United States, 2024 was a pivotal...more
This article, the first in a multi-part series on M&A in insurance, considers the change of control regime under the Bermuda Insurance Act 1978 (the “Insurance Act”) as it applies to shareholder controllers of Bermuda...more
Our corporate team outline the latest developments within the corporate and finance market in Bermuda including Bermuda’s Corporate Income Tax Act 2023, Cyber risk management and The Bermuda Monetary Authority's enhancements...more
Since the announcement of its Fintech strategy in November 2017, the Bermuda government has positioned Bermuda as a market-leading jurisdiction with respect to Fintech, with a view to Bermuda operating as an innovation hub...more
The Personal Information Protection Act ("PIPA") comes into full force on 1 January 2025. All organisations in Bermuda are expected to be in compliance with it by that date – time is running out! The Privacy Commissioner...more
This edition of The Standard Formula looks at the updated proposals set out in the consultation paper published by the Bermuda Monetary Authority (BMA) on July 28, 2023, which relate to the BMA’s plan to enhance the...more
In our latest installment of “The Standard Formula” podcast, partner Rob Chaplin and associate Ilianna Kotini discuss the proposals made in the Bermuda Monetary Authority's latest consultation paper, which are focused on the...more
We’ve got an update on the Arizona ballot measure. Federal appropriation legislation includes some cannabis provisions. In international news, Bermuda is looking at legalization. And we close out with Oklahoma, where the...more