Notice for consultation Guidance Notes CSP AML/ATF (2021-07-14)

Summary

This is a notice from the Bermuda Monetary Authority (BMA) opening a consultation on draft Annex VI Sector-Specific Guidance Notes for Corporate Service Provider (CSP) Business. The sector-specific notes are meant to supplement the Authority's general AML/ATF Guidance Notes by applying them to the nature and risk profile of the CSP sector, and do not replace the general Guidance Notes.

• Purpose: Invites stakeholder comments on the draft Annex VI Sector-Specific Guidance Notes for CSP Business, part of a broader update to AML/ATF guidance to align with the FATF's revised 40 recommendations.
• Legal basis: Issued under section 5(2) of the Proceeds of Crime (Anti-Money Laundering and Anti-Terrorist Financing Supervision and Enforcement) Act 2008, which requires supervisory authorities to issue and update AML/ATF guidance.
• How to respond: Comments should be emailed to amlresearch@bma.bm with 'CSP Sector' in the subject line.

The consultation is time-limited: it runs for 30 days and closes on 18 August 2021. This is a consultative notice, not a final binding rule, so it does not itself impose ongoing compliance obligations beyond the deadline to submit comments.

Key obligations

• Stakeholders wishing to comment must submit responses to amlresearch@bma.bm with 'CSP Sector' in the email subject line before the consultation closes on 18 August 2021.

Applies to

Corporate Service Providers (CSP)

Deadlines

• 18 August 2021: End of the 30-day consultation period for comments on the draft Annex VI Sector-Specific Guidance Notes for CSP Business