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KPMG Bermuda and one of its managing directors have been fined and censured by the Public Company Accounting Oversight Board, the firm’s regulator for the audits of American public companies. KPMG has been fined $250,000 while Damion J Henderson, who...

Bermuda could benefit from the introduction of economic substance rules for companies registered on the island, but the guessing game is not over yet. Indeed, less than two months after coming into force, the Economic Substance Regulations 2018 have ...

Russian airlines could be forced to re-register their aircraft in their homeland, which would cut the Bermuda registry by 75 per cent. Thomas Dunstan, director-general at the Bermuda Civil Aviation Authority, said the majority of the aircraft on Berm...

The Bermuda Monetary Authority has proposed wide-ranging fee increases and new charges for some of its services. It believes it will need a further 39 full-time staff by 2020 to continue to effectively fulfil its role and expanding mandate, and has p...

Bermuda has a right to speak up and protect its world-leading brand in the face of larger countries and organisations pressuring smaller jurisdictions to accept their compliance regulations. Other offshore financial centres that are also regarded as...

When it come to privacy and personal data of clients it is time for businesses and organisations to think beyond compliance and build a data-aware culture. Why? Because a data breach can prove costly in many ways, from lost profits to a plummeting st...

Bermuda’s overall threat rating for money laundering has increased from medium to medium-high after a comprehensive update to its 2013 risk assessment was carried out last year. The Bermuda Monetary Authority said the increase in the rating does not ...

Relations between the UK and its Overseas Territories have taken “a significant backwards step” following a move to compel the OTs to make their company ownership registries public by the end of 2020. That was the reaction of David Burt, the Premier,...

A move to require Bermuda to make its register of company ownership public by the end of 2020 has been described as a backwards step in relations between the UK and the UK Overseas Territories by David Burt, the Premier. A debate in the House of Comm...

The Bermuda Government is seeking candidates to sit on the Regulatory Authority’s Board of Commissioners. The RA oversees the electronic communications and energy sectors and reports to the board. The commissioners’ posts have been advertised and app...

Legislation to modernise supervision of the real estate industry to meet international standards has been tabled in the House of Assembly. The Real Estate Brokers’ Licensing Act 2017 and The Corporate Service Provider Business Amendment Act 2017 were...

A bid by the UK’s House of Lords to force Bermuda and other overseas territories to introduce a public record of company ownership has been dropped. Bermuda, which already has a register of beneficial owners accessible on request by overseas governme...