Notice - Consultation Paper – Proposed Enhancements to the Investment Business Regime: Rules Appendices and Statement of Principles (2021-10-14)

Summary

This is a notice from the Bermuda Monetary Authority announcing a consultation paper on proposed enhancements to the Investment Business regulatory regime. It seeks stakeholder feedback on draft rules, guidance and a statement of principles intended to modernise capital and reporting requirements for investment business licensees.

• Documents under consultation: Investment Business Statutory Returns Rules 2022; Investment Business (Net Assets, Capital and Liquidity) Rules 2022; Appendix I Investment Business Capital Framework Guidance; Appendix III Prudential Information Return Template; and the BMA Investment Business Statement of Principles.
• Purpose: Continues the Authority's 2021 initiative to modernise the regulatory and supervisory framework for investment business, following earlier consultation on amendments to the Investment Business Act 2003 and the Investment Business (Exemptions) Order 2004.
• How to respond: Stakeholders are invited to submit feedback on the consultation paper and the attached illustrative draft Regulations and Rules, available on the BMA's discussion and consultation papers webpage.

This notice is informational and consultative in nature; it does not itself impose binding obligations, but signals upcoming regulatory changes for investment business licensees once the rules are finalised.

Key obligations

• Stakeholders wishing to comment must submit feedback to policy@bma.bm no later than close of business on 12 November 2021

Applies to

investment business licensees

Deadlines

• 12 November 2021: Deadline for submitting comments on the consultation paper to policy@bma.bm