Bermuda Anti-Money Laundering and Anti-Terrorist Financing Legislation
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The Bermuda Anti-Money Laundering and Anti-Terrorist Financing legislation, including related statutes, statutory instruments, rules and statutory appointments, incorporating all amendments to date.
The most recent legislative updates include:
- consequential amendments made by the Schedule to the Registrar of Companies (Supervision and Regulation) Act 2020 to the Proceeds of Crime Act 1997, the Proceeds of Crime (Anti-Money Laundering and Anti-Terrorist Financing Supervision and Enforcement) Act 2008, the Anti-Terrorism (Financial and Other Measures) Act 2004, the Financial Intelligence Agency Act 2007, and the Proceeds of Crime (Anti-Money Laundering and Anti-Terrorist Financing) Regulations, 2008, in force 1 November 2020
Other recent amendments include:
- amendments to the Fourth Schedule Fees to the Bermuda Monetary Authority Act 1969 made by the Bermuda Monetary Authority Amendment Act 2020, operative 19 March 2020,
- amendments to section 2(1) of the Proceeds of Crime (Anti-Money Laundering and Anti-Terrorist Financing Supervision and Enforcement) Act 2008 made by Schedule 2 to the Fund Administration Provider Business Act 2019, operative 31 December 2019
- consequential amendments to section 55A of the Proceeds of Crime Act 1997 made by Part 7 of the Child Safeguarding (Miscellaneous Amendments) Act 2019, operative 1 November 2019, and consequential amendments to section 42A of the Proceeds of Crime Act 1997 made by the Insurance Amendment Act 2019, operative 5 August 2019
Guidance notes on the Prevention of Money Laundering and Combating Terrorist Financing are available from www.bma.bm.
This compendium is intended for informational purposes only. While every effort has been made to ensure the accuracy of the legislation and related material, and it is believed that the only errors are those contained in the official legislation itself (which errors have been faithfully reproduced), no responsibility is assumed for the content. Reference should be made to the official versions of the legislation for an authoritative statement of the law and any subsequent amendments. Nothing in this compendium is to be considered as creating an attorney-client relationship or indeed any contractual relationship or as rendering legal or professional advice for any specific matter. Readers are responsible for obtaining such advice from their own legal counsel. No client or reader should act or refrain from acting on the basis of any content within this document without first obtaining matter-specific legal and/or professional advice. Conyers accepts no responsibility for any loss or damage, howsoever incurred, which may result from accessing or reliance on this content.
Conyers Dill & Pearman
Revised: November 2020
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