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Island hosts key regulation conference

More than 200 leaders in alternative asset management and regulation will today kick off a two-day conference that is a first for Bermuda.

The Regulatory Compliance Association (RCA) Regulation, Operations and Compliance meeting — normally held in the Caymans — will also highlight 150 full scholarships for RCA-accredited training programmes to prepare Bermudians for lucrative careers in a booming sector.

George Thomas Jr, chairman of the curriculum committee for Bermuda's Advanced Workforce Training programme, said: “The RCA provides an important education platform that will ensure that Bermudians have the skills necessary to be at the forefront of providing leading regulatory and compliance expertise to international financial services businesses.”

He added: “Attracting business is more than about simply marketing the jurisdiction. We absolutely have to have Bermudians who have the education, skills and expertise to serve those companies and work for them.

“The asset management world is undergoing tremendous regulatory change on a global basis and Bermuda has a real opportunity to emerge as the jurisdiction of choice if we are prepared at all levels to serve that sector.”

The two-day conference, to be held at the Fairmont Southampton, will also feature a keynote speech tomorrow by Sir Russell Coutts, the CEO of defending America's Cup champions Team Oracle.

RCA chairman Walter Zebrowski said: “Bermuda is the ideal jurisdiction for this event.

“With its strong financial services industry and tremendous credibility from a global regulatory perspective, it simply made sense to bring this symposium to Bermuda.

“We are thrilled with support of the Government and many of the Bermuda-based businesses and organisations in their efforts to make this a meaningful and effective event for our members.”

The RCA has an international membership of 78,000 professionals graduate students, firms and government authorities, with 18,000 people a year using its educational programmes ti boost their skills.

The RCA has been working with the Bermuda Government for a year in a bid to help the Island diversify the local economy and increase its attractiveness as a home for the global asset management industry.

Mr Thomas said: “This symposium culminates a year of strong collaboration and innovative partnerships between the RCA and Bermuda to create a solid working relationship that will drive further initiatives.”

And he added: “The RCA Bermuda College Advanced Workforce Training programme will develop the level of expertise in the domestic market and further align Bermuda's intellectual capital with that of other global financial centres.

“Adding the educational programme in conjunction with the RCA provides excellent opportunities for Bermudians to further develop skills with international demand right here at home.”

The symposium also features a Women in Asset Management and Regulation round table meeting, which includes top woman executives from Bermuda, New York and other major financial centres.

Appleby managing partner Kiernan Bell, said: “The value for women at all levels of their professional career in having a woman's summit cannot be underestimated.

“It enables women who are existing and future leaders to learn from each other while clearly demonstrating paths to success in a highly-competitive sector.”

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Published April 23, 2015 at 9:00 am (Updated April 22, 2015 at 9:42 pm)

Island hosts key regulation conference

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