The Bermuda Monetary Authority is the regulator of Bermuda’s financial services industry. Established by statute in 1969, the authority has changed significantly over almost five decades to adapt to changing needs of the financial sector and global regulatory requirements. Today, it supervises and regulates financial institutions operating in Bermuda. Additional responsibilities include issuing Bermuda’s national currency, managing exchange control transactions, assisting other agencies with the detection and prevention of financial crime, and advising the government on banking and other financial and monetary matters. The authority develops risk-based financial regulations that it applies to the supervision of Bermuda’s banks, trust companies, investment businesses, investment funds, fund administrators, money service businesses, corporate service providers and insurance companies. It also regulates the Bermuda Stock Exchange.