The Bermuda Monetary Authority announced on Friday that it has signed a Memorandum of Understanding (MOU) with German financial regulator, the Federal Financial Supervisory Authority, in relation to the European Union's (EU) Alternative Investment Fund Managers Directive (AIFMD).
With that signing, Bermuda has signed MOUs with 27 European member states (the other MOUs were signed in 2013) and continues to be positioned as an established and recognised fund domicile of choice.
Signing of MOUs are essential to the continued ability of Bermuda funds to be managed by an EU manager and/or marketed into Europe under the existing private placement regimes in the EU.
This recent signing is another example of the recognition by the Government of Bermuda and the Bermuda Monetary Authority of the importance of Bermuda's asset management industry to the jurisdiction.
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