Bermuda to emphasise regulatory strengths in bid to gain more hedge fund business
Bermuda has struggled to compete with the Cayman Islands as a hedge fund jurisdiction. The push to improve regulatory standards for hedge funds may encourage more to domicile there.
Bermuda has a strong reputation for regulation and a depth of experienced offshore hedge fund practitioners. That in itself has not been sufficient for it to challenge the dominance of the Cayman Islands as the offshore domicile of choice for hedge funds.
The passage of the Investment Funds Act of 2006 (IFA) was expected to bolster Bermuda’s credentials as an international financial centre and attract more business to the jurisdiction.
The legislation, which came into force in 2007, streamlined
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