For a better experience on Cayman Islands Monetary Authority, update your browser.

Cayman Islands Monetary Authority Fines Kevin David Poole CI$14,700.00

Enforcement Notices
Date: Wed, 07 December 2022

The  Cayman  Islands  Monetary  Authority  (the  “Authority”)  has  imposed a discretionary administrative fine of CI$14,700.00 on Kevin  David  Poole (“Mr. Poole”) pursuant  to  the  provisions of sections 42A and 42B of the Monetary Authority Act (2020 Revision) and the Monetary Authority (Administrative Fines) Regulations (2022 Revision).

The administrative fine was imposed on Mr. Poole in respect of the following conduct:

  1. Knowingly or wilfully supplying false or misleading information to the Authority in relation to an application submitted to the Authority on behalf of a managed insurance company at the relevant time.

The above breaches relate to conduct that occurred between 2020 and 2021.

The Authority reminds directors and officers of licensees of their legal obligations under the Insurance Act, 2010 and the Authority’s expectation that persons in a controlled function be candid and truthful in all their dealings with the Authority.