The Bermuda Monetary Authority has launched a consultation on proposed guidance explaining how existing regulatory requirements apply when regulated financial services firms develop, deploy or use artificial intelligence. The guidance would not introduce new requirements or establish a separate AI licensing regime. The principles-based and proportionate framework covers governance, risk management, data oversight, transparency, cybersecurity, operational resilience and related safeguards. Regulated entities and other stakeholders may submit comments by Oct. 30, 2026.
Bermuda Monetary Authority consults on principles-based guidance for responsible AI use in financial services
The Bermuda Monetary Authority is consulting on guidance for applying existing regulatory obligations to artificial intelligence use in the regulated financial services sector. The principles-based framework would cover areas including governance, risk management, transparency, cybersecurity and operational resilience, without creating new requirements or a separate licensing regime. Comments are due by Oct. 30, 2026.