Bermuda has been approved as a signatory for the cooperation agreement with EU member states in relation to the Alternative Investment Fund Managers Directive (AIFMD).
ESMA has approved co-operation agreements between securities regulators from the 27 EU member states and the European Economic Area, and 34 of their global regulatory counterparts including the Bermuda Monetary Authority.
“This re-affirms Bermuda’s position in terms of satisfying the core conditions under the AIFMD as a third country,” says Jeremy Cox (pictured), chief executive of the Authority. “Bermuda remains a solid opportunity for Bermuda-based funds and fund managers looking to conduct business in Europe after the AIFMD is implemented as of 22 July 2013.”
