Bermuda: Compliance

The Bermuda Monetary Authority has released a consultation paper on artificial intelligence regulation in financial services, proposing a risk-based framework that extends existing regulatory requirements rather than creating new licensing regimes. Financial institutions now face critical decisions about how to classify AI use cases, implement governance controls, and prepare for heightened scrutiny of generative and agentic AI systems before the October 30 feedback deadline.

Artificial intelligence is rapidly transforming workplace decision-making, moving from administrative tasks to influencing recruitment, performance management, and termination decisions. As employers increasingly rely on AI systems to process information and make recommendations about employees, they face growing legal risks around discrimination, transparency, and accountability. Understanding how existing privacy laws like Bermuda's PIPA apply to AI-assisted employment decisions, and implementing proper h

The Bermuda Monetary Authority has released a consultation paper proposing principles-based guidance on artificial intelligence use in financial services, clarifying how existing regulatory frameworks apply without introducing new AI-specific legislation. The guidance establishes eight core principles and detailed expectations for governance, risk management, and oversight of AI systems, including emerging agentic AI capabilities. Regulated entities must now assess their AI inventories, board oversight arra

Bermuda's financial services sector faces a critical challenge as traditional compliance frameworks struggle to keep pace with the BMA's increasingly sophisticated, data-driven supervisory approach. Many firms have inadvertently created compliance systems so heavy and reactive that they impede business operations rather than effectively managing risk. The article examines how a shift toward precision-based, truly risk-sensitive compliance can transform regulatory burden into competitive advantage.

The Bermuda Employment Amendment Act 2026, which came into force on 1 June 2026, introduces a statutory right to parental leave for employees in Bermuda who become parents through adoption or legal guardianship.

The ISAC Act Bermuda has established itself as a leading jurisdiction for the structuring, issuance, and ongoing operation of tokenised funds.

Bermuda has passed the Beneficial Ownership Act 2025, a landmark reform that consolidates and simplifies the ownership disclosure regime, introduces new roles and powers for the Registrar of Companies...

Previously the domain of business continuity programmes and disaster recovery policies, the Resilience Code takes the governance and operational requirements of business continuity to an entirely new level of compliance.

Bermuda has passed the Beneficial Ownership Act 2025, a landmark reform that consolidates the ownership disclosure regime, strengthens the Registrar of Companies' powers, and introduces new responsibilities for companies themselves...