The Investment Business Act 2003 (the IBA 2003) was recently passed by the Bermuda legislature and became operative on 30th January, 2004. The IBA 2003 repealed the Investment Business Act 1998 (the IBA 1998) and substituted in its place a new and more refined regime for regulating investment business in Bermuda.
Cheryl Lister, Chairman and CEO of the Bermuda Monetary Authority - the body responsible for regulating the financial services sector, announced plans to introduce "far-reaching" changes to Bermuda's alternative investment regulations in a speech given at a BIBA (Bermuda International Business Association) sponsored event held recently
Known as being the world’s premier offshore financial centre, Bermuda has a long established reputation for stability and security. It is situated in the North Atlantic between the United States and Europe, approximately 750 miles southeast of New York. With direct flights arriving from and departing to gateway cities along the US East Coast, Toronto and London, Bermuda is relatively easy to get to.