Notice - Sector Specific Guidance Notes AML-ATF- Corporate Service Provider Business (2018-05-11)

Summary

This is a consultation notice issued by the Bermuda Monetary Authority announcing draft sector-specific AML/ATF guidance for Corporate Service Provider Business, intended to supplement the Authority's general AML/ATF Guidance Notes. It does not itself impose new binding requirements but invites stakeholder comment on the proposed sector guidance before finalization.

• Purpose: Updates sector-specific guidance to align with the FATF's revised 40 Recommendations (2012) and to tailor the general AML/ATF Guidance Notes to the corporate service provider sector.
• Relationship to main GN: The sector-specific notes supplement, and must be read alongside, the main AML/ATF Guidance Notes; they do not replace them.
• Consultation mechanics: Comments are invited from all stakeholders and must be emailed to policy@bma.bm with the subject line including the words AML/ATF Corporate Service Provider Business.

The consultation period runs for 30 days from the notice date, closing on 11 June 2018. Corporate service providers and other interested stakeholders wishing to influence the final guidance should submit comments before that date.

Applies to

Corporate Service Provider Business, AML/ATF regulated financial institutions

Deadlines

• 11th June 2018: End of the 30-day consultation period for submitting comments on the draft Sector-Specific AML/ATF Guidance Notes for Corporate Service Provider Business.