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  4. Bermuda launches consultation on Operational Resilience Code

Bermuda launches consultation on Operational Resilience Code

13 Mar 2025
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On 14 January 2025, the Bermuda Monetary Authority (BMA) published a consultation paper on its proposed Operational Resilience and Outsourcing Code, supported by the Operational Resilience and Outsourcing Guidance Notes, aimed at strengthening the financial sector’s ability to manage and recover from disruptions. The framework is designed to integrate into the risk management systems of certain BMA-regulated financial institutions, tailored to their business size, nature, and complexity.

This initiative seeks to ensure that critical services remain available without interruption, safeguarding business continuity and consumer confidence. Stakeholders are encouraged to share their feedback by emailing policy@bma.bm before 14 March 2025.

The consultation notice can be found here.

Authors
Henry Tucker Harneys front portrait image on a grey background
Henry Tucker
Partner | Dispute Resolution | Bermuda
Mirza Manraj Harneys front portrait image on a grey background
Mirza Manraj
Counsel | Regulatory & Tax | Hong Kong