Established 1969 (1969) Headquarters Hamilton | Website www.bma.bm Founded 1969 | |
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Chairman The Hon. Gerald Simons, OBE Currency Bermudian dollarBMD (ISO 4217) | ||
Bermuda monetary authority press conference bermuda mar 22 2012
The Bermuda Monetary Authority (the Authority) is the integrated regulator of the financial services sector in Bermuda.
Established under the Bermuda Monetary Authority Act 1969, the Authority supervises, regulates and inspects financial institutions operating from within the jurisdiction. It also issues Bermuda's national currency; manages exchange control transactions; assists other authorities in Bermuda with the detection and prevention of financial crime; and advises the Government and public bodies on banking and other financial and monetary matters.
The Authority develops risk-based financial regulations that it applies to the supervision of Bermuda's banks, trust companies, investment businesses, investment funds, fund administrators, money service businesses and insurance companies. It also regulates the Bermuda Stock Exchange.