Bermuda: Assessment of the Supervision and Regulation of the Financial Sector
October 16, 2008
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This paper presents an assessment of Financial Sector Supervision and Regulation for Bermuda. The Bermudian authorities have made impressive progress in developing and implementing a risk-focused approach to supervision across the range of their sectoral supervisory responsibilities. Full rollout of the risk-based regulatory system to all market segments is, however, required for achievement of comprehensive oversight of the market. To support the introduction of a formal risk-based supervisory system, the banking department has been restructured.
Subject: Anti-money laundering and combating the financing of terrorism (AML/CFT), Commercial banks, Crime, Financial institutions, Insurance, Insurance companies, Mutual funds
Keywords: AML, Anti-money laundering and combating the financing of terrorism (AML/CFT), Bermuda, Bermuda insurance market, Bermudian company, CFT policy formulation function, CFT regime, Commercial banks, company, CR, deposit company, Global, Insurance, Insurance companies, ISCR, market, Mutual funds, reinsurance companies Ace Ltd, Standard and Poor's
Pages:
67
Volume:
2008
DOI:
Issue:
336
Series:
Country Report No. 2008/336
Stock No:
1BMUEA2008002
ISBN:
9781451805628
ISSN:
1934-7685
