anti-money-laundering measures to the British Government has been extended, according to the Ministry of Finance.

Bermuda and other Caribbean Overseas Territories were originally given the date of 15 January -- today -- to submit proposals in response to a KPMG report commissioned by the UK Government.

But on Friday the Ministry of Finance said there had been a delay in the UK and the proposals would not become public until the end of the month. No details are known about what Bermuda's proposals will include. A spokesman said: "There has been a slight delay in the publication of the final responses. The Foreign and Commonwealth Office told us there had been a delay in getting some of the reports and it will be published some time towards the end of January.'' And he added that the information contained in Bermuda's report, which was submitted on time, would be embargoed until that date.

The long awaited KPMG report was published in October 2000 and extended to all areas of financial regulation including banking, insurance, securities, mutual funds, independence of regulator, companies, trusts, partnerships, anti-money laundering procedures and international co-operation afforded to other jurisdictions.

While the KPMG praised Bermuda for its stance against money laundering, the UK said it expected a timetable of action to be drawn up.

British Economic Secretary to the Treasury, Melanie Johnston, announced last year she expected a specific timetable of action by January 15 2001.

The report, commissioned by the British Foreign and Commonwealth Office, contained several recommendations on how Bermuda's financial regulations could be strengthened.

At the time both the Bermuda Government and the business community were in agreement that the report held no surprises.

In fact many said the KPMG recommendations coincided with those they had shown the reviewers at the start of the probe.

Premier Jennifer Smith and Finance Minister, Eugene Cox, both have said Bermuda would not be bullied into implementing recommendations that did not suit its specialist environment.

But according to a Press release from the Foreign and Commonwealth Office Mr.

Cox agreed, along with the other overseas territories involved in the probe, to "publish by January 15 2001 a response to the recommendations addressed to it, together with a timetable for action''.

Also agreed was that "following appropriate consultation and parliamentary approval within each Overseas Territory, the core recommendations relating to independent regulatory authorities, anti-money laundering regimes and exchange of information would be substantially implemented by September 30 2001''.

The report handed down a very favourable review of Bermuda's financial regulations with real concern only shown in the area of the Trust Act which the Bermuda Monetary Authority had already planned to address.