Appendix VI - Statistical Report - Money Service Business Act 2016

Summary

This is a standard reporting form (Appendix VI) prescribed under the Bermuda Monetary Authority's Money Service Business Act 2016 framework. It requires money service businesses (MSBs) to report quarterly statistical data on transactions and revenue by service type, certified by an authorised individual.

• Reporting period: Covers a single calendar quarter, with amounts stated in US dollars.
• Data captured: Number of transactions, dollar value, and commissions/fees retained, broken down by service: money transmission (inward and outward), cheque cashing, cheque guarantee, issuing travelling cheques/money orders, electronic card payments, bureau de change activity (BD$ sales, purchases, other currency conversions), and any other detailed service.
• Certification: A named individual must certify the information is complete and correct, sign, and date the form.

The form itself notes the underlying statutory duty: under section 69 of the Money Service Business Act, providers must deliver this Statistical Report to the Authority within 28 days of the end of each calendar quarter.

Key obligations

• A money service business must deliver a completed Statistical Report to the Authority within twenty eight (28) days from the end of each calendar quarter, per section 69 of the Money Service Business Act.
• The report must include, for each service category, the number of transactions, dollar value, and commissions/fees retained during the quarter.
• An authorised individual must certify the report as complete and correct, and sign and date it before submission.

Applies to

money service businesses

Deadlines

• 28 days from the end of each calendar quarter: Deadline to deliver the completed Statistical Report to the Authority, as required under section 69 of the Money Service Business Act.