Trevor Moniz, the Attorney-General, has told MPs that legislation modelled on the international bribery law has been sent to the Governor and the Foreign and Commonwealth Office.

Bermuda’s policy seeks to extend Britain’s convention against corruption and Organisation for Economic Cooperation and Development conventions to combat bribery.

Mr Moniz said a request had been formally made for the regime to cover Bermuda and allow the island to affirm its compliance with “international gold standards”.

“It is the right thing to do, regardless of international standards,” he said, upholding Bermuda’s “sterling reputation as an offshore financial centre”.

• To see Mr Moniz’s statement in full, click on the PDF under “Related Media”