AML/atf & sanctions Compliance

We tailor our compliance offering to suit the particular needs of your business and to reflect the current status of the compliance framework which your business has implemented.  Our advisory services include: developing a full compliance programme from initial risk assessment to finalisation of policies and procedures (including the development of sanctions and suspicious activity reporting policies); liaising with the regulator to ensure successful licensing of regulated entities; reviewing the current compliance polices adopted and recommending revised procedures to address any identified weaknesses; preparing your business for regulatory inspections and providing post inspection advice; and providing training to your staff and officers to ensure your business adheres to its regulatory obligations.

REGULATORY ENFORCEMENT & CONTENTIOUS MATTERS

Bermuda’s regulator and competent authorities are empowered to undertake audits of regulated businesses, order remediation objectives and impose fines for regulatory and AML breaches. Our legal experts frequently advise on negotiations with these authorities and defence of regulatory proceedings and are well-placed to advise on your best defence.

Economic Substance Analysis & Compliance

Bermuda’s economic substance legislation requires that relevant entities conducting relevant activities must have a certain level of presence in Bermuda. All Bermuda entities need to think about whether or not they are in scope of the economic substance regime.  As a trusted advisor to our clients, our regulatory experts have the specialized knowledge and in-depth understanding of the regime needed to navigate economic substance. Appleby has developed cost-effective tools to assist you with determining whether or not you have compliance obligations, and our legal and regulatory experts can help you with all aspects of compliance.

Privacy & Data Protection

There are now data protection laws in more than 120 countries around the world. Bermuda’s data protection laws come into effect on 1 January 2025. Data is commonly viewed as one of the most valuable commodities in today’s global digital economy. Protecting those assets is understandably a priority for governments, businesses and individuals alike. The increasing complexity of regulation and the meteoric rise of technology, together with cyber security concerns and international data sharing regimes make the protection and use of data more complex than ever before. Appleby can assist with data protection policies, audits, gap analysis and systems configuration. Our cyber-security experts offer practical, detailed solutions to reduce risks. Responding to data subject access requests requires advanced planning, and we can help you prepare and respond in a timely and efficient manner.

Corporate Regulatory Services

Entities in Bermuda face a minefield of filing requirements, deadlines, and time-sensitive demands. Our regulatory experts can assist in configuring your internal policies and procedures to align with regulatory filing obligations, ensuring that your business can meet all of its obligations painlessly. Emerging sectors, such as virtual asset service providers and cryptocurrency platforms, are entering a regulatory landscape that is evolving quickly and constantly. Appleby’s experts have been at the leading edge of legislative and regulatory developments in Bermuda and can help you prepare not just for what your business needs to do today, but for what is likely to come tomorrow.

Re/insurance Regulatory

As a global re/insurance leader, Bermuda’s dynamic regulatory framework plays a significant role, balancing regulatory oversight with industry innovation. At Appleby, we stand at the forefront, guiding clients through this ever-evolving landscape with unparalleled expertise. Our comprehensive services span licensing, governance, risk management, filings and proactive engagements with the regulators. We specialize in addressing and understanding the intricacies around recent re/insurance regulations, including the enhanced risk-based supervisory framework, updates to the Insurance Code of Conduct, and the introduction of innovative structures like ISACs, life sidecars, fully collateralized insurers, and insurtech vehicles. Appleby assists clients in crafting bespoke policy framework solutions that are specifically tailored to their business. Our ready-made policies and procedures enable clients to maximize cost savings and stay abreast of evolving regulations. We also support clients facing regulatory investigations and enforcement proceedings.

Environmental, Social, & Governance

Bermuda’s increasing emphasis on ESG factors reflects its commitment to sustainable and responsible business practices. At Appleby, we provide comprehensive expertise to guide clients through Bermuda’s evolving ESG landscape. Our services encompass assistance with ESG framework development, ongoing compliance, policy development, and sustainability reporting. We focus on helping clients navigate and integrate ESG considerations, including adherence to recommended international standards and applicable Bermuda regulations, into their business models.

Key contacts

Brad Adderley

Managing Partner: Bermuda

T +1 441 298 3243
E Email Brad

Sally Penrose

Partner, Head of Regulatory: Bermuda

T +1 441 298 3286
E Email Sally

John Wasty

Partner, Head of Dispute Resolution: Bermuda

T +1 441 298 3232
E Email John

Duncan Card

Partner: Bermuda

T +1 441 298 3270
E Email Duncan

Gary Harris

Partner: Bermuda

T +1 441 298 3278
E Email Gary

James Batten

Senior Associate: Bermuda

T +1 441 298 3269
E Email James

Katie Blundy

Senior Associate: Bermuda

T +1 441 298 3524
E Email Katie

Jordan Knight

Counsel: Bermuda

T +1 441 298 3213
E Email Jordan

Jeffrey Blair

Associate: Bermuda

T +1 441 298 3221
E Email Jeffrey

Larissa Dziubenko

Associate: Bermuda

T +1 441 298 3259
E Email Larissa

Ligaya Sanchez-Wilson

Associate: Bermuda

T +1 441 298 3265
E Email Ligaya

James Sellick

Associate: Bermuda

T +1 441 298 3215
E Email James

Jarion Richardson

Consultant: Bermuda

T +1 441 298 3267
E Email Jarion

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