A new law to create a public register of directors comes into force today.

Government amended company law to create the register to stay in line with US Financial Action Task Force rules.

The new law means every company registered in Bermuda has to file a list of its directors with the Registrar of Companies and notify any changes within 30 days.

While the amendment to the Companies Act 1981 takes effect today, firms have until the end of the year to comply.

The Registrar of Companies is working on a new electronic platform so directorships can be logged online.

Information on directors must include name, and address for individuals and the name and registered office in the case of companies.

The Registrar of Companies will maintain the register, which will be available for public inspection, subject to any conditions the Registrar might impose and a fee.

Offshore law firm Appleby yesterday sent out a reminder of the change in the regulations.

Managing partner Timothy Faries said that the information was already publicly available, but not at a single site.

And he added it was unlikely to deter people from holding multiple directorships.

Mr Faries said: “Having it with the Registrar makes it slightly easier for the public but it has no impact on people being able to serve on numerous boards.”