The Bermuda Monetary Authority (BMA) needs to attract greater support from the Island itself in order to correct potentially “damaging misconceptions” and be perceived as adding value and serving the interests of the community.That is the view of Jeremy Cox, CEO of the BMA, who said it was his hope that the Authority would in 2011 emerge as a recognised financial services supervisor, and be trusted and respected both domestically and internationally.He said that while much work had gone into building the BMA’s reputation in Europe and the US, educating regulators and lawmakers and advocating on behalf of the jurisdiction, the next objective was to reach out to Bermuda itself.“If the Authority is to be generally perceived as adding value, if we are to correct potentially damaging misconceptions, if we wish to be regarded as serving the interests of the wider community, I believe we need to attract greater support domestically,” he said.“In short, we would like more stakeholders to understand what we do, how we do it and just why any of that should matter to them. My vision for 2011 and beyond, therefore, is not only of an Authority whose role is more widely understood but which, in turn, also understands what is expected of it.”Greg Wojciechowski, president and CEO of the Bermuda Stock Exchange (BSX), said:. “The BSX is as committed as ever to the further development of the domestic capital market and to providing Bermudians with an opportunity and ability to invest in the local companies which they make successful, by buying their goods and service.“While the domestic market is critically important to us - we will also leverage the foundation that has been put in place to attract new international business to the country. One such example is our commitment to drive the convergence of the capital and insurance markets here in Bermuda. Our first step in this regard is our support of the work done by the BMA in permitting the creation of a corporate vehicle which is the foundation in the creation of insurance linked securities.”