Regulatory Compliance Association Reviews

The Renewal of the Asset Management Business in Bermuda

Practice Edge 02

The Renewal of the Asset Management Business in Bermuda™

Date: November 19, 2014
General Session: 12 Noon (London) / 7 AM (New York) to 1:30 PM (London) / 8:30 AM (New York)
Location: Webcast (Free)

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Having viable options when choosing an offshore jurisdiction is good for our industry and the investors we serve. Bermuda was once the domicile of choice for offshore funds, but we became complacent and Cayman achieved dominance. Over the last 18 months, through collaboration among industry, government and the regulator, Bermuda has updated its Investment Funds Act, and made other legislative and policy changes aimed at improving our fund product. Additionally, the absence of corporate, income and dividend taxes, along with the unsurpassed quality of life on the island, make Bermuda a highly desirable location for asset management companies. This seminar will discuss these features, compare our revised product to those of other jurisdictions, and explain Bermuda’s approach to FATCA and AIFMD. Our panel will include leaders from Bermuda investment management, law, audit and fund administration firms, along with a representative from the Bermuda Monetary Authority and the Bermuda Stock Exchange.

Participants will become familiar with the following:

1. Recognize the changes that have been made to Bermuda’s fund framework following discussions among Bermuda industry, Government and the Bermuda Monetary Authority as well as international influencers;
2. Identify the effect of recent amendments to Bermuda’s Investment Funds Act 2006;
3. Compare Bermuda’s current fund framework to those of other jurisdictions;
4. Appreciate licensing requirements/exemptions for Bermuda-based asset managers and opportunities for having a physical presence in Bermuda;
5.Recognize Bermuda’s position in relation to FATCA and AIFMD;
6.Differentiate between Bermuda’s fund classes;
7.Apply the legal, regulatory and tax advantages of choosing Bermuda as a jurisdiction.

Session Chairman:
Walter Zebrowski, JD, CPA, Principal, Hedgemony Partners
Chairman, Regulatory Compliance Association

Senior Fellow from Practice:
Chris Gardner, JD Partner, Dechert

Guest Lecturers:

Ross Webber, MBA Chief Executive Officer, Bermuda Business Development Agency
Greg Wojciechowski President & CEO, Bermuda Stock Exchange
Shelby Weldon, CPA Director – Licensing & Authorizations, Bermuda Monetary Authority
Sarah Demerling Partner, Appleby
Sharon Beesley, LLM Director & CEO, ISIS Law
Beth Denman, JD Partner, Conyers, Dill & Pearman
Alex Potts, BVC Partner, Sedgwick Chudleigh
Jessel Mendes, CPA, CA Partner, EY
Alison Morrison Managing Partner, Oyster Consulting