The Bermuda Monetary Authority has signed a MoU with German financial regulator, the Federal Financial Supervisory Authority (BaFin), in relation to the European Union’s Alternative Investment Funds Managers Directive (AIFMD).

The MoU will provide mutual assistance between supervising managers of alternative investment funds who operate on a cross-border basis in both jurisdictions.

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Jeremy Cox, CEO of Bermuda Monetary Authority, said: "Germany is an important market for Bermuda, and this MoU will ensure that Bermuda fund managers have the opportunity to participate in the German market with the appropriate level of supervisory oversight.

"Marking this milestone also serves to reinforce Bermuda’s competitive position as a jurisdiction that can accommodate a full spectrum of fund related activity within an internationally recognised regulatory framework."

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