Registration Form - Registration of Non-Licensed Person/Exempted Private Trust Companies

Summary

This is a registration form used by the Bermuda Monetary Authority (BMA) to register Non-Licensed Persons and Exempted Private Trust Companies for AML/ATF supervision purposes under the Proceeds of Crime (Anti-Money Laundering and Anti-Terrorist Financing Supervision and Enforcement) Act 2008. It collects company, compliance officer and reporting officer details, along with supporting documentation, and must be submitted with the applicable registration fee.

• Company information: Primary company details, billing contact, physical and mailing addresses, and register of companies number.
• Type of business: Applicant must state whether it is a Non-Licensed Person or an Exempted Private Trust Company (Section 3 of the Trusts (Regulation of Trust Business) Exemption Order 2002).
• Compliance and reporting officers: Names and contact details of the Compliance Officer (responsible for AML/ATF regulatory oversight) and Reporting Officer (receives internal suspicious activity reports).
• Supporting documents: Resumes for the Compliance Officer, Reporting Officer, beneficial owner (as defined under Regulation 3 of the Proceeds of Crime Regulations 2008), and any individuals who effectively direct or control the business.
• AML/ATF policies: Confirmation (yes/no) that board-approved AML/ATF Policies and Procedures are attached, or an explanation if not, plus confirmation of Fit and Proper Requirements.
• Fee payment: Registration fee or proof of wire payment must accompany the form, payable to the Bermuda Monetary Authority via specified Butterfield Bank, HSBC or cheque payment channels.

The completed form, fee payment proof, AML/ATF policies and Fit and Proper documentation must be sent to the BMA's AML/ATF Unit at BMA House, Hamilton, Bermuda.

Key obligations

• Non-Licensed Persons and Exempted Private Trust Companies must submit this registration form to the BMA's AML/ATF Unit together with the registration fee or proof of wire payment.
• Applicants must attach board-approved AML/ATF Policies and Procedures, or explain why they are not attached.
• Applicants must provide resumes for the Compliance Officer, Reporting Officer, beneficial owner(s), and individuals who effectively direct or control the business.
• A Compliance Officer and a Reporting Officer must be designated and their contact details provided.
• Fit and Proper Requirements documentation must be supplied as part of the registration.

Applies to

Non-Licensed Person, Exempted Private Trust Company, AML/ATF regulated financial institutions