Author: Jeremy Leese

05 Nov 2014

Jeremy Leese
There was further recent evidence that Bermuda’s revolutionary approach to updating its funds regime has attracted a great deal of interest and support from those working in this business sector. Invaluable feedback received from New York decision makers in round table meetings in May 2013 prompted the collaborative efforts of the Bermuda Monetary Authority (BMA), Government of Bermuda, Bermuda Business Development Agency (BDA) and key members of Bermuda’s funds community to amend Bermuda’s fund legislation, thereby making Bermuda a more competitive and desirable jurisdiction for funds. The changes, driven by this vital input from the US funds industry, led to the launch of two new user-friendly, exempt fund classes which can be registered and launched on a fast-track basis using the BMA’s online system (ERICA).
19:06 / Company & Commercial Law
05 Nov 2014

Jeremy Leese
The Companies Amendment Act 2014 introduced new provisions with regard to the ability of local and exempt companies to acquire land in Bermuda. It should be noted that consent is still required from the Minister of Economic Development in relation to corporate landholding; however, the Minister’s decision will be guided by the provisions of the legislation and the accompanying policy.
18:48 / Bermuda Case Law & Legislation / Company & Commercial Law
27 Nov 2013

Jeremy Leese
The Investment Funds Amendment Act 2013 (the “Amendment”) (70 KB PDF) has recently been enacted to introduce changes to Bermuda’s Investment Funds Act 2006 (the “Act”), the legislation which provides the regulatory framework for the formation and management of investment funds in Bermuda. The Amendment’s objective is to increase the attractiveness of Bermuda fund formation to sophisticated investors and onshore funds lawyers and fund managers. The Amendment is evidence of the way in which the Bermuda Government, the Bermuda Monetary Authority (the independent regulator of the financial services industry in Bermuda) (the “BMA”), and the funds industry is working together to develop innovative products designed to re-energise this sector in the jurisdiction.
16:54 / Bermuda Case Law & Legislation / Company & Commercial Law
10 Jul 2013

Jeremy Leese
Recent statutory amendments, introduced by the Companies Amendment Act 2013, mean that Bermuda companies listed on appointed stock exchanges are no longer required to file prospectuses in Bermuda. Previously, a Bermuda company listed on an appointed stock exchange (which covers many of the world’s major stock exchanges) had to file with the Registrar of Companies in Bermuda a copy, signed by or on behalf of all directors of the company, of any prospectus that had to be filed under the rules of that stock exchange (or pursuant to the rules of the relevant regulator in such jurisdiction). The legislation now in effect abolishes the requirement to also file such prospectus in Bermuda.
12:35 / Bermuda Case Law & Legislation / Company & Commercial Law