BMA’s Byrne named to top IAIS committee role

  • IAIS appointment: Garrett Byrne, the BMA's chief enforcement officer

    IAIS appointment: Garrett Byrne, the BMA's chief enforcement officer

Garrett Byrne, the Bermuda Monetary Authority ’s chief enforcement officer, has been appointed vice-chairman of the International Association of Insurance Supervisors’ Financial Crime Task Force.

The IAIS is a global standard-setting body which promotes effective and globally consistent supervision of the insurance industry.

Its Financial Crime Task Force is comprised of representatives with experience in policy and/or supervisory measures to combat financial crime from the likes of the US, Brazil, Canada, France, Germany, Switzerland and Singapore. The group meets four times a year and convened for the first time in Bermuda in March 2018.

Mr Byrne said: “Serving on the IAIS Financial Crime Task Force is of critical importance for the BMA and Bermuda at a time when companies’ cybersecurity measures, and the efforts of countries to combat money laundering and terrorist financing, are increasingly under review. “The task force’s current focus is to monitor cybercrime initiatives within the financial sector and developments in combating terrorist financing.”

This follows the appointments of Craig Swan, managing director, supervision (insurance) and Marcelo Ramella, deputy director, financial stability in January this year as co-vice chairmen of the IAIS Policy Development Committee and the Macroprudential Committee, respectively.

Bermuda was a founding member of the IAIS in 1994. Today, its membership includes insurance regulators and supervisors from more than 200 jurisdictions in nearly 140 countries.

You must be registered or signed-in to post comment or to vote.

Published Jul 9, 2018 at 2:30 pm (Updated Jul 10, 2018 at 12:00 am)

BMA’s Byrne named to top IAIS committee role

What you
Need to
1. For a smooth experience with our commenting system we recommend that you use Internet Explorer 10 or higher, Firefox or Chrome Browsers. Additionally please clear both your browser's cache and cookies - How do I clear my cache and cookies?
2. Please respect the use of this community forum and its users.
3. Any poster that insults, threatens or verbally abuses another member, uses defamatory language, or deliberately disrupts discussions will be banned.
4. Users who violate the Terms of Service or any commenting rules will be banned.
5. Please stay on topic. "Trolling" to incite emotional responses and disrupt conversations will be deleted.
6. To understand further what is and isn't allowed and the actions we may take, please read our Terms of Service
7. To report breaches of the Terms of Service use the flag icon

  • Take Our Poll

    Today's Obituaries

    eMoo Posts