The Bermuda Monetary Authority

The Bermuda Monetary Authority (BMA) is the primary regulator of Bermuda's financial services sector.The Authority began its work in 1969 under statutory law; its functions have evolved due to the development of the financial industry.The Authority now regulates, supervises, and inspects financial institutions in Bermuda.

In addition to its regulatory work, the BMA issues Bermuda's national currency, regulates foreign exchange control transactions, collaborates with other authorities to detect and prevent financial crime, and advises the government of Bermuda on banking, monetary, and economic matters.

A considerable portion of the BMA's work involves developing and implementing risk-based financial regulations concerning the following: banks, trust companies, investment firms, investment funds and fund administrators, digital asset businesses, money service businesses, corporate service providers, insurance companies, and, of course, the Bermuda Stock Exchange and Bermuda Credit Union.

Three priorities represent a significant focus for the Authority:

• To maintain effective and future-focused regulatory frameworks through a highly skilled and engaged workforce,

• To operate efficiently while promoting sustainable operating practices,

• To support responsible innovation both locally and in the international marketplace.

In this way, the BMA continues to be a respected and trusted financial regulator worldwide, supporting solutions that enable the ever-changing and evolving needs of customers in the financial services industry.