Premier and Governor head Bermuda effort in London

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Business Bermuda has just wrapped up its annual Bermuda Financial Services Conference in London. The event, held at the Mandarin Oriental, Hyde Park, hosted a series of panel sessions covering key issues in the financial sector while discussing the advantages of Bermuda’s economic and political environment that make it the jurisdiction of choice. More than 250 people in the industry executives attended.

Key business and government figures including Governor Sir Richard Gozney, Premier Paula Cox, Bermuda Monetary Authority (BMA) CEO Jeremy Cox, Bermuda Stock Exchange CEO Greg Wojciechowski, and Bermuda Business CEO Cheryl Packwood spoke at the conference, making the case for the Island’s financial services sector as a global leader.

Ms Cox highlighted the tax information exchange agreements (TIEAs) signed this week with Italy and Malaysia, the enactment of Bermuda’s Amendment Act during 2011, the importance of credibility and Bermuda’s commitment to achieving Solvency II equivalence.

“Bermuda continues to update and improve its regulatory framework to withstand critical inspection, all with one thing in mind; credibility,” she said. “Our investment in our regulatory infrastructure reinforces our global reputation and our appeal as a jurisdiction in which to do business.”

The conference also included sessions discussing Islamic finance, convergence, trusts, hedge funds and private equity and investments, private wealth, capital markets and asset financing .

Ms Packwood said the event gave Bermuda Business the opportunity to highlight progress Bermuda has made since last year’s conference.

“In that time, we have updated and improved our company law and applied for Solvency II equivalence,” she said. “We continue to strengthen and deepen our relationships with international financial centres and remain focused on creating an attractive business environment built around a robust and sophisticated regulatory framework.”

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