AIMA Bermuda Addresses Economic Substance and Updates to Fund Regulations

Published: 14 December 2018

AIMA Bermuda held a Hot Topics Update and Holiday Social, sponsored by Carey Olsen Bermuda, as industry participants prepare to fulfil Bermuda’s proposed Economic Substance Regulations, expected to be passed by Government before year-end. Event speakers included Yvette Pierre, Deputy Director of Policy at the Bermuda Monetary Authority (BMA) and Adam Bathgate, Counsel at Carey Olsen Bermuda. Mr. Bathgate noted, “We are pleased to discuss the proposed changes to Economic Substance with our industry counterparts. We expect 2019 will be a busy and challenging year, but we are excited to meet this challenge as Bermuda retains its position as a leading global jurisdiction”. The Hot Topics event was attended by many business leaders, including Jeremy Cox, Chief Executive Officer of the BMA and Dr. Grant Gibbons, former Minister of Economic Development.

Chairperson of AIMA Bermuda’s Executive Committee, KPMG Managing Director Craig Bridgewater, noted, “AIMA’s Bermuda network is pleased to be working in cooperation with the BMA and industry stakeholders as we solidify Bermuda’s position as an alternative investments leader in a sophisticated global economy with a high standard for regulation and governance. We are especially happy to have the BMA’s insight during this Hot Topics event and are we looking forward to continued engagement from both the public and private sector in the coming months.”

 

AIMA Bermuda welcomes members from the accounting, legal and banking, fund management and administration, and the ILS industry sectors.  Through its global industry initiatives including advocacy, policy and regulatory engagement, educational programmes and sound practice guides, AIMA works to raise media and public awareness of the value of the industry. Industry members may email aimabermuda@kpmg.bm for additional details on membership and to attend 2019 education sessions.