“She brings years of experience working with U.S. regulators and large financial institutions. Over the past year, Oyster Bermuda received a number of inquiries from companies in Bermuda about U.S. regulations. The Bermuda Monetary Authority is a well-respected regulator, but compliance professionals will attest that each regulator likes things done in a particular way. Nikki’s experience with U.S. regulators could save the Bermuda business community time and energy as their trusted U.S. advisor. “
Are Your Internal Controls, Written Procedures and Supervisory Reviews Enough? If your firm is affiliated with broker-dealers in the U.S., you may have reviewed the enforcement actions filed by FINRA related to the use of consolidated reports, and are wondering if you are doing enough to protect your firm. Here is what you need to… READ MORE
Fintech Firm Circle Leverages Oyster Consulting to Obtain Bermuda’s First Class F Digital Asset License
Circle and Oyster Consulting show the time is now for Bermuda’s dive into the Digital Assets industry. Circle, an global crypto financial services company, engaged Oyster Consulting (Bermuda), to help guide them through a successful application process for the Class F license, and to provide compliance services for the future. In June 2019 Circle became… READ MORE
The SEC Adopts Regulation Best Interest (Reg BI) and Additional Rules and Interpretations that Address Relationships Between Retail Investors and Investment Professionals
The Barristers & Accountant’s AML/ATF Board issued a public notice requiring that all of its regulated entities forward their completed Independent Reviews by April 30, 2019, in accordance with requirements of Section 17A of the Proceeds of Crime (Anti-Money Laundering and Anti-Terrorist Financing) Regulations 2008. What is Required under Regulation 17A? All regulated entities must maintain… READ MORE
HAMILTON, BERMUDA, February 19, 2019 — Oyster Consulting (Bermuda) Ltd announced today that Ann Daniels has joined the financial services consulting firm. Ann will be providing consulting services with an emphasis on AML/CFT and Risk Compliance. Ann brings more than 15 years of experience in Regulatory Risk and Compliance in the financial services industry. Ann’s… READ MORE
The SEC’s Office of Compliance Inspections and Examinations (“OCIE”) released its 2019 Examination Priorities on December 20, 2018. While most of these priorities may not have a direct impact on firms located in Bermuda, many firms have affiliates or branches in the U.S. that will be affected. Of particular note are the priorities around digital assets, cybersecurity and money laundering.