Economic Substance Law Requires Risk, Due Diligence and Oversight Processes

In December 2019 the Bermuda Finance Minister released final Guidance around Bermuda’s Economic Substance (ES) laws.  Firms falling within the scope of the ES laws are required to submit their declaration indicating the level on on-island activity no later than six months after their financial year start date. Many companies are using third-party relationships to… READ MORE

Oyster Consultants Contributors to HFM 2018 Bermuda Report

In the recently published HFM Bermuda 2018 Special Report, Oyster Consulting (Bermuda) Director Henry Komansky and Consultant Chiara Soria reflected on the incoming AML/ATF regulation and the evolving necessities of board governance as the island’s regulatory scope increases. (Excerpts) The pace of regulatory change continues to increase and the BMA has recently published a number… READ MORE