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Offshore Trusts Report: BermudaSupervisory and Licensing Regime and Fees The Trust Companies Act 1991 and the Trusts (Regulation of Trust Business) Act 2001 established a regulatory regime for trust management companies in Bermuda, and many professional firms have taken advantage of this legislation. The 2001 Act prohibited the carrying on of trust business in or from within Bermuda unless the trustee is licensed or exempt. The Act replaced the Trust Companies Act 1991, and conferred new regulatory and information gathering powers on the Bermuda Monetary Authority.
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