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
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.
Bermuda’s regulatory framework for digital assets, ICOs and virtual currencies As the digital asset and blockchain industries continue to gain ground among investors, brokers and exchanges, the island is hoping to capitalize on the new market. Bermuda’s government has taken steps to strengthen its regulatory regime, making it a selling point for fintech companies thinking of… READ MORE
Trying to merge digital assets with the current financial services industry is a bit like installing solar panels on a home that’s already on the electrical grid. It can be done, but if you hook it up incorrectly, the whole thing could go up in flames. Anyone who has looked at the About Oyster webpage… READ MORE
Robert Hall assumes position of Chairman of the Board; Brian R. Hall, OBE transitions to Chairman Emeritus HAMILTON, BERMUDA, August 15, 2018 — Oyster Consulting (Bermuda) Ltd. announced today that Brian R. Hall, OBE, former Chairman of the Board of Oyster Consulting (Bermuda) Ltd., has become Chairman Emeritus. Mr. Hall served as Chairman of the… READ MORE
Regulators in the digital asset space are focusing a significant amount of attention to Initial Coin Offerings (ICOs) and digital asset trading. Their activities have included addressing the lack of transparency of exchanges that trade digital assets, jurisdictional issues, and the need to consider registration or qualifying for an exemption for ICOs and cryptocurrency-related investments…. READ MORE
As the popularity of digital assets/distributed ledger technology piques the interests of investors worldwide, firms registered with the SEC, FINRA, CFTC, NFA and the states must be prepared to determine if and how much they are interested in permitting their clients to participate in the volatile digital asset market. If so, as with all other… READ MORE