The Bermuda Monetary Authority’s (Authority or BMA) consultation papers for credit union companies are provided in the “Consultation Papers” section of the Authority’s website.
The Authority publishes consultation papers to: a) indicate to industry what the Authority is proposing to implement; b) obtain feedback from industry on the proposals; and c) explain the outcomes the Authority is seeking.
Once the consultation process is finalised, and relevant comments have been reviewed, the Authority may issue a notice to respond to the consultation comments. Such consultation facilitates input from the market in parallel to ensuring that any proposed regulatory changes will be effective and consistent with international standards.
