Senior Corporate Counsel, Bourn Collier, recently explored part of Bermuda’s history of wartime censorship and codebreaking with modern similarities to Bermuda’s digital asset industry and its hosting of encryption and cryptocurrencies technologies.
The Cybersecurity Act 2024 to usher in a new era for the protection of Bermuda’s critical national information infrastructure
The advantage of a partnership is that it is versatile enough to handle a wide scope of business activities and this Guide provides an overview of partnerships generally and the more commonly used exempted limited partnerships.
Sharon A. Beesley and Bourn Collier have authored the Bermuda chapter of Getting the Deal Through: Public M&A, 2023 edition. This focused international publication covers M&A transactional requirements and procedures governing publicly listed companies, covering such areas as: types of business combinations, applicable legislation, filings and public disclosure requirements, substantial shareholding regulations, duties of directors and controlling shareholders, shareholder rights of approval and appraisal, and hostile transactions, among other key topics.
In this article, Sharon A. Beesley and Bourn Collier consider the rise of a new business structure involving decentralised forms of business conducted on blockchains or distributed ledgers, referred to as decentralised autonomous organisations (DAOs). Bermuda is a leading jurisdiction for digital asset (or crypto-asset) business and the authors consider key challenges and like characterisations of the new structures.
This Guide provides a brief overview and gives general information relating to the law and procedures for the establishment and operation of investment funds in Bermuda. It has been prepared to assist parties interested in establishing an investment fund in Bermuda and to give a summary of the law and procedures relating to the establishment, operation and ongoing requirements under Bermuda law. It is not intended to be comprehensive but to provide an outline of the laws and regulations which we hope will be of use to our clients while deciding the type of structure that is appropriate for their business objectives.
This Guide provides a brief overview of general and sector-specific changes intended to impact the Bermuda business community, as announced in the Speech from the Throne delivered by Her Excellency the Governor Ms. Rena Lagie on 3 November 2023.
Our Counsel, Governance & Privacy Gretchen Tucker has recently authored a 2023 Guide providing an overview of the activities of the Government of Bermuda and the Privacy Commissioner, Mr. Alexander McD White. The Guide summarises some of the key initiatives of the Office of the Privacy Commissioner (PrivCom) during 2023 and informs Bermuda organisations (and overseas companies interested in establishing a Bermuda office) on privacy developments and industry engagement during this “new normal” era.
Speaking on investing in human talent, Managing Partner Sharon Beesley said:
“At BeesMont Law, we recognise that an important driver of our success is our people. The pandemic has served to re-focus our attention on the need to demonstrate the value we place on our staff and that this value extends beyond financial profits, and attaches to our core values – ethics, professionalism and acknowledgement of the inherent worth of individuals as human beings. As a hybrid
law firm where attorneys regularly work remotely and administrative staff operate independently, there is considerable merit in recognising talent for being accountable and espousing our values. When we put these values into practice, our client-focused advisory business thrives and so does our culture. I want to congratulate all of those appointed and promoted at BeesMont Law and thank them for their dedication to our organisation and their teamwork.”
Our Investment Business Memorandum reviews the 2022 amendments to the Investment Business Act (IBA) regime in Bermuda. The principal change to the regulation of investment business by the Bermuda Monetary Authority is the removal of the former licensing criteria, which provided that to be regulated under the IBA the investment business had to be physically based in Bermuda. This requirement no longer applies and the former exemption category no longer applies. There is a transition period for existing businesses to apply to be licensed or registered (as applicable) which expires on 28 July 2023, please therefore read the attached Investment Business Memorandum to determine whether under the revised IBA you now need to apply to be licensed or registered in Bermuda.