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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...

The Senate has approved new legislation to enhance the powers of the Registrar of Companies. The Registrar of Companies (Compliance Measures) Act 2017, tabled by Senator Jeff Baron, is intended to help the island maintain its OECD rating. Mr Baron sa...

A series of lunch and learn sessions dedicated to aspects of anti-money laundering audit processes, procedures and compliance, are to be held in Bermuda during the next few months. The monthly sessions are being hosted by Oyster Consulting (Bermuda) ...

Behind closed doors, compliance has been described as a necessary evil. At worst, an intentional and unfair obligation imposed on Bermuda for the benefit of the onshore world. On the other side of the argument, compliance is idealistically venerated...

The Bermuda Chamber of Commerce is to highlight tough new rules for the real estate industry as part of a crackdown on money laundering and terrorist financing. Kendaree Burgess, executive director of the Bermuda Chamber of Commerce, said: “Becoming ...

Bob Richards, the Minister of Finance, is in London and is expected to join a number of global leaders today at an anti-corruption summit. The event comes only a month after millions of documents were leaked from Panamanian law firm Mossack Fonseca, ...

About 60 miles north of Kingston, Jamaica, in the jungles surrounding Port Antonio, there is a course in offshore regulatory compliance. On any given day, participants experience temperatures in the high 80s with humidity about 70 per cent. The humi...

The European Union has introduced new data protection laws that will have implications for many Bermuda companies that do business in the 28-country bloc. The new General Data Protection Regulation, which was approved by the European Parliament last ...

A group representing Bermuda’s largest insurers is firmly in favour of the island striving to meet new “country-by-country” income reporting standards aimed at forcing multinational companies to pay taxes where profits are generated. The initiative i...

Bermudians and Bermuda-based business can be forgiven for rolling our collective eyes at the breaking news of Mossack Fonseca. This story will reignite the stale arguments over the ‘tax haven’ and ‘offshore’ labels. And yet again every small jurisdic...

Offshore financial centres with ties to Britain are “among the hardest places in the world to evade taxes or launder money”, claims a group representing legal and accountancy firms. The IFC Forum, which represents firms operating in several offshore ...