Statement of Principles (SoP) & Code of Practice (CoP)
In accordance with sections 6 and 7 of the Act, the Bermuda Monetary Authority (Authority or BMA) has published the SoP and CoP.
The SoP provides guidance on the Authority’s approach in interpreting the minimum criteria for licensing and grounds for revocation; in exercising its power to grant, revoke or restrict a licence; and in exercising its power to obtain information and reports and to require production of documents.
The CoP provides guidance on duties, requirements, standards, procedures and sound principles to be observed by persons carrying on MSB.
For more details please click on below link
