ORIGINAL PUBLICATION HERE
The European Union and the BMA have signed a Cooperation Agreement regarding the Alternative Investment Fund Managers Directive (AIFMD). Co-operation agreements like these are a key element in effective supervision of non-EU AIFMs and are a pre-condition in allowing non-EU AIFMs access to EU markets or to perform fund management activities on behalf of EU managers. As part of its AIFMD compliance initiatives, the BMA will develop an opt-in regime to enable Bermuda-based AIFMs to maintain seamless operations across the European market.
The BMA is a full member of The International Organization of Securities Commissions (IOSCO), and a founding member of the International Association of Insurance Supervisors (IAIS).
Bermuda was the first offshore jurisdiction elevated to The Organisation for Economic Co-operation and Development’s (OECD) “White List” category.