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:
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.