Overview
The BMA is guided by the Bermuda Monetary Authority Act 1969 (BMA Act) to supervise the financial services companies we license and regulate (known as ‘licensed businesses’). Our responsibilities include monitoring these businesses to ensure they are meeting their licence requirements.
Why make a complaint?
Reviewing complaints is one of the ways the BMA can assess if licenced businesses are following the requirements of their licence.
Therefore, by making a complaint, you are helping the us to ensure they are treating their customers fairly.
The information you provide will be used for this assessment and any subsequent regulatory actions
We expect all licensed businesses in Bermuda to operate responsibly and conduct their business fairly. This includes them having processes and controls in place to acknowledge your complaints and resolve them in a timely manner.
If you feel that a licensed business has not handled your complaint to your satisfaction, we encourage you first to discuss the issue with the business directly. Thereafter, if you are still unsatisfied, you can file a complaint against the business with the BMA.
How to Make a Complaint
To make a complaint about a financial services provider you have two options. You can submit complaint either online or by email.
Option 1: Submitting your complaint online
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Gather together all the information listed in the “Information Checklist” in the blue box on this page; and
- Submit your complaint online by clicking on the below button and following the instructions:
Option 2: Submitting your complaint by email
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Gather the information listed in the “Information Checklist” in the blue box;
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Write the email and include all the details within the body of your email that is listed in the "Information Checklist";
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Add one of the two of the following statements within the body of your email:
- Remember to attach any documents or relevant materials; and
- Send your email tocomplaints@bma.bm
Information Checklist
- The business name
- Your contact details (name, phone number and email)
- A summary of your complaint using no more than 10,000 characters that includes:
- A concise description of your complaint, including key dates and details
- Any actions taken by the business to resolve your complaint
- The action you expect the businesses to take
- Any other relevant information
- Please also prepare any documents or materials that can help us understand your complaint
About Your Consent
To make a complaint, you will need to indicate whether or not you provide your consent for the BMA to use the information you provide for its regulatory purposes, including sharing it with the licensed business.
Next Steps
Once we receive your complaint, we will review the information you have provided and reach out if we have any questions. If your matter falls outside the BMA’s scope, if applicable, we will advise you of this and re-direct you to the appropriate organisation (such as the Pension Commission Bermuda or Registrar of Companies, for example).
Although acting as mediator for your specific complaint is outside the scope of the BMA’s legislated mandate, it is within our scope to investigate whether or not a business has complied with its licence requirements when handling your matter.
If we determine that the business has not complied with its licence requirements, we will be able to take action against it.
In accordance with the BMA Act and regulatory requirments, the BMA’s complaint review process and its outcome must remain confidential.
