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A new supervisory authority to regulate lawyers and accountants to prevent money laundering is to be established in Bermuda. The authority – The Barristers and Accountants AML/ATF Board – will be setup under the Proceeds of Crime Regulations (Supervision and Enforcement) Amendment Act 2010, which has just been approved by the House of Assembly. The board will be jointly established by the Bermuda Bar Association and the Institute of Chartered Accountants in Bermuda.