Notice - Reasonableness in Licensing (2021-07-01)

Summary

This is a brief notice from the Bermuda Monetary Authority (BMA) passing along information from the Financial Sanctions Implementation Unit. It draws stakeholders' attention to a blog post published by the UK's Office of Financial Sanctions Implementation (OFSI) titled 'Reasonableness in Licensing', dated 30 June 2021.

The notice does not itself set out new rules, obligations, or deadlines; it simply directs readers to external UK guidance on how OFSI approaches reasonableness when considering financial sanctions licensing decisions.