Bermuda signs EU agreement affecting fund managers
The Bermuda Monetary Authority said that it has signed the cooperation agreement with European Union (EU) Member States in relation to the Alternative Investment Funds Managers Directive (AIFMD).
This means that new and existing Bermuda-based funds and fund managers can continue to seamlessly conduct business with the European market.
“We are pleased to finalise our agreements with the EU Member States under the AIFMD,” said Jeremy Cox, BMA CEO.
“This is the result of a concerted effort by the Bermuda team, led by Shauna MacKenzie, our Director of Policy, Legal and Enforcement at the Authority. The ongoing work on this initiative also involves a legislative review of our regime and appropriate adaptations in relation to the oversight of Bermuda-based investment managers. This work will ensure that investment managers may fully participate in European markets from Bermuda and reinforces our position as a competitive jurisdiction for the global funds sector.”