CIMA Withdraws Fines Against Sterling Asset Management International

By a previous Notice dated 6 May 2022, the Cayman Islands Monetary Authority (the "Authority") imposed discretionary fines totalling CI$299,050.00 on Sterling Asset Management International Limited (the "Company"). 

The Company was granted leave to appeal the Fine Notice in proceedings FSD cause number 124 of 2022 (IKJ). 

By the terms of a Consent Order dated 21 April 2023, the Authority has withdrawn the fine notice dated 6 May 2022 in its entirety, such that no discretionary fines have been imposed against the Company.