Sep 2022
Consolidated Acts
The Bermuda Anti-Money Laundering and Anti-Terrorist Financing legislation, including related statutes, statutory instruments, rules and statutory appointments, incorporating all amendments to date.
The most recent legislative updates include:
- consequential amendments to the Fourth Schedule to the Bermuda Monetary Authority Act 1969 under the heading Proceeds of Crime (Anti-Money Laundering and Anti-Terrorist Financing Supervision and Enforcement) Act 2008, made by the Bermuda Monetary Authority Amendment (No. 2) Act 2022, deemed to have come into operation 1 January 2022,
- consequential amendments to section 2(1) of the Proceeds of Crime (Anti-Money Laundering and Anti-Terrorist Financing Supervision and Enforcement) Act 2008, made by the Schedule to the Investment Business Amendment Act 2022, operative 27 July 2022
The previous update included:
- amendments made by the Proceeds of Crime Amendment Act 2022 to the Proceeds of Crime Act 1997 and the Proceeds of Crime (Anti-Money Laundering and Anti-Terrorist Financing) Regulations 2008, operative 27 February 2022.
- he repeal and replacement of the Fourth Schedule Fees to the Bermuda Monetary Authority Act 1969 for the Proceeds of Crime (Anti-Money Laundering and Anti-Terrorist Financing Supervision and Enforcement) Act 2008 made by section 5 of the Bermuda Monetary Authority Amendment (No. 2) Act 2021, operative 1 January 2022
Other recent amendments include:
- minor consequential amendments made by the Gaming (Transfer of Functions) Act 2021 to the Anti-Terrorism (Financial and Other Measures) Act 2004, the Financial intelligence Agency Act 2007. the Proceeds of Crime Act 1997, the Proceeds of Crime (Anti-Money Laundering and Anti-Terrorist Financing Supervision and Enforcement) Act 2008, and the Proceeds of Crime (Anti-Money Laundering and Anti-Terrorist Financing) Regulations 2008, operative 1 August 2021
GUIDANCE NOTES
Guidance notes on the Prevention of Money Laundering and Combating Terrorist Financing are available from www.bma.bm.
This compendium is intended for informational purposes only. While every effort has been made to ensure the accuracy of the legislation and related material, and it is believed that the only errors are those contained in the official legislation itself (which errors have been faithfully reproduced), no responsibility is assumed for the content. Reference should be made to the official versions of the legislation for an authoritative statement of the law and any subsequent amendments. Nothing in this compendium is to be considered as creating an attorney-client relationship or indeed any contractual relationship or as rendering legal or professional advice for any specific matter. Readers are responsible for obtaining such advice from their own legal counsel. No client or reader should act or refrain from acting on the basis of any content within this document without first obtaining matter-specific legal and/or professional advice. Conyers accepts no responsibility for any loss or damage, howsoever incurred, which may result from accessing or reliance on this content.
Conyers Dill & Pearman
Hamilton, Bermuda
Revised: September 2022