Compliance & Regulatory Updates

Have You Completed Your AML Audit? Time is Running Out

Why AML/ATF Annual Reviews Are Important AML/ATF-regulated entities in Bermuda have an obligation of having an independent Anti-Money Laundering (“AML”) audit performed at least annually. This means at least once a year and more frequently when senior management becomes aware of any gap or weakness in the AML/ATF policies, procedures or controls, or when senior… READ MORE

Oyster Consulting Welcomes Nikki Brinkerhoff

“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. “

SEC Regulatory Focus in 2019 – What it Means for Bermudian Firms

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.

Act Now – FINOP Changes Required October 1st

FINRA is changing its registration requirements for Chief Financial Officers (CFOs) and Chief Operating Officers (COOs).  The new registration rules take effect October 1, 2018. It is more than just a title change.  The requirement for certain firms to have a CFO/COO (requiring Series 27/28 licensing) is being applied to ALL firms, and the registration… READ MORE

FINRA Registration Reset

Last October, the SEC approved sweeping, new FINRA registration rules that consolidated and restricted existing NASD and NYSE registration rules.  The rules affected are FINRA Rules 1210, 1220, 1230, and 1240. The rules are effective October 1, 2018.  Over the next few weeks, Oyster will post blogs on the following topics to help you understand… READ MORE

Digital Assets – The Future of the Financial Services Industry

  Are your clients asking about Bitcoin and other digital assets? Do you want to add digital assets to your business model? Are you wondering how blockchain technology is changing the face of the financial services industry?   If you answered YES to any of these questions, watch Oyster’s latest webinar:     In this… READ MORE