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Enforcement Notices

CIMA's effective and proportionate use of its powers to enforce the requirements of the regulatory laws and other relevant legislation plays an important role in the pursuit of its regulatory objectives. CIMA endeavours to exercise its enforcement powers in a manner that is transparent, proportionate and consistent with its publicly stated policies and guidelines. Click here for more details. 

Decision Notices
21 February 2024

Director Registration Cancelled for Dzintars Derkacs NEW

The Authority, pursuant to section 25(2)(a) of the Act, has cancelled the director registration held by Mr. Dzintars Derkacs.

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21 February 2024

Securities Registration Cancelled for Valor Capital NEW

The Authority, pursuant to section 17(2A)(a) of the Act, has cancelled the registration held by the Registrant as a Securities-Reg...

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27 November 2023

Director Registration Cancelled for Ling Zhang

The Authority, pursuant to section 25(2)(a) of the Act, has cancelled the director registration held by Mr. Ling Zhang.

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27 November 2023

Director Registration Cancelled for Jianxin Yu

The Authority, pursuant to section 25(2)(a) of the Act, has cancelled the director registration held by Ms. Jianxin Yu.

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27 November 2023

Securities Registration Cancelled for Jolly Capital Limited

The Authority, pursuant to section 17(2A)(a) of the Act, has cancelled the registration held by the Registrant as a Securities-Reg...

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20 October 2023

Securities Registration Cancelled for VIA Asset Management

The Authority, pursuant to section 17(2A)(a) of the Act, has cancelled the registration held by the Registrant as a Securities-Reg...

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19 October 2023

Banking Licence Revoked for Trade and Commerce Bank

The Authority has revoked the Licensee's Category "B" Banking Licence pursuant to section 18(5)(b) of the Act due to the Licensee ...

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16 August 2023

Director Registration Cancelled for Gordon Kenneth Ferguson

The Authority, pursuant to section 25(2)(a) of the Act, has cancelled the director registration held by Mr. Gordon Kenneth Ferguso...

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16 August 2023

Director Registration Cancelled for Trevor Dean Federkiewicz

The Authority, pursuant to section 25(2)(a) of the Act, has cancelled the director registration held by Mr. Trevor Dean Federkiewi...

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16 August 2023

Registration Cancelled for 12 Peers Capital Markets, Ltd

The Authority, pursuant to section 17(2A)(a) of the Act, has cancelled the registration held by the Registrant as a Securities Reg...

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28 December 2022

VQR Multistrategy Fund LP. and VQR Multistrategy Cayman Feeder Fund Ltd.

The Authority has cancelled the Funds’ mutual fund registrations pursuant to section 30(3)(a) of
the Act.

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28 December 2022

Virgil Sigma Fund, LP

The Authority has cancelled the Fund’s mutual fund registration pursuant to section 30(3)(a) of the
Act.

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28 December 2022

Stefan He Qin

The Authority has cancelled the director registration held by Mr. Stefan He Qin (“Mr. Qin”) pursuant
to section 25(2)(a) of th...

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01 June 2022

Obelisk Global Fund SPC

The Cayman Islands Nlonetary Authority (the “Authority”) writes to you in your capacity as Directors and Controller of the Fun...

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18 May 2022

Advanced Fund Administration (Cayman) Limited

The Cayman Islands Monetary Authority (the “Authority) writes to you in your capacity as the Director of the Company.

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28 March 2022

The RDI Company Ltd

The Cayman Islands Monetary Authority (“the Authority”) writes to you in your capacity as the Directors of the Company.

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30 November 2021

Mr. Kelly Simon Tonkin

The Cayman Islands Monetary Authority (“the Authority”) of SIX, Cricket Square, P.O. Box 10052, Grand Cayman KY1-1001, CAYMAN ...

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20 October 2021

Alpha Re Limited

The Cayman Islands Monetary Authority (the "Authority") writes to the Company and you in your capacity as the Official Liquidator ...

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05 May 2021

Port Royal Reassurance Company SPC, Limited

The Cayman Islands Monetary Authority (the “Authority”) writes to you in your capacity as the director of Port Royal Reassuran...

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05 January 2021

CTS Captive Management (Cayman) Ltd.

The Cayman Islands Monetary Authority ("the Authority") writes to you in your capacity as Directors of the Company.

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15 October 2020

Platinum Partners

Platinum Partners Credit Opportunities Fund International (A), Ltd. (Reg. #16069); Platinum Partners Credit Opportunities Fund Int...

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08 July 2020

Focus Administration Limited

We write to you in your capacity as directors of the Company. We refer to the Cayman Islands Monetary Authority's ("the Authority"...

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29 June 2020

Alesia Re, SPC

The Cayman Islands monetary Authority (“the Authority”) writes to you in your capacity as Directors of the Company.

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16 June 2020

Intrepid Re, SPC

The Cayman Islands Monetary Authority (“the Authority”) writes to you in your capacity as directors of the Company.

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16 June 2020

Atlas Re, SPC

The Cayman Islands Monetary Authority (“the Authority”) writes to you in your capacity as Directors of the Company.

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28 May 2020

Hinduja Bank & Trust (Cayman) Ltd.

The Cayman Islands Monetary Authority (“the Authority”) writes to you in your capacity as sole Director of the Bank. We refer ...

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22 May 2020

Bridge Global Absolute Return Fund SPC

The Cayman Islands Monetary Authority (“the Authority”) writes to you in your capacity as Directors of the Fund.

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22 April 2020

Balkan Investment Opportunity Fund

The Cayman Islands Monetary Authority ("the Authority") writes to you in your capacity as Directors of the Fund. We refer to the W...

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15 January 2020

KTH Capital Management Limited

The Cayman Islands Monetary Authority ("the Authority") writes to you in your capacity as Directors of the Company. We refer to th...

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02 January 2020

KTH Capital Limited

The Cayman Islands Monetary Authority ("the Authority") writes to you in your capacity as Directors of the Fund.We refer to the Wa...

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04 December 2019

Agavero Insurance Limited

The Cayman Islands Monetary Authority ("the Authority") writes to you in your capacity as directors of the Company.

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29 October 2019

John David Geraci (Cancellation)

We refer to our Decision Notice dated 18 October 2018, notifying you that the Cayman Islands Monetary Authority ("the Authority") ...

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29 October 2019

Mark Graham (Cancellation)

Pursuant to section 25(2)(a) of the Directors Registration and Licensing Law, 2014 (as amended) (“the DRLL”), the Cayman Islan...

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29 October 2019

Roland Kaehler (Cancellation)

We refer to our Decision Notice dated 14 June 2019, notifying you that the Cayman Islands Monetary Authority (“the Authority”)...

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18 June 2019

L.A. Capital Management, Ltd.

We write to you in your capacity as Director of the Fund. We refer to the Warning Notice posted on our Website dated 10 May 2019...

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14 June 2019

Cancellation of Oliver -Barret Lindsay

Pursuant to section 25(2)(a) of the DRLL, the Cayman Islands Monetary Authority has cancelled the director registration held by Mr...

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14 June 2019

Suspension of Roland Frederick Kaehler

Pursuant to section 25(2)(a) of the Directors Registration and Licensing Law, 2014 (as amended) (“the DRLL”), the Cayman Islan...

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15 May 2019

Aphelion Offshore Fund Ltd.

We write to you in your capacity as Director of the Fund. We refer to the Warning Notice posted on our Website dated 14 March 201...

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27 March 2019

ManagementPlus (Cayman) Limited

We refer to the matter at caption and to the Authority's previous correspondence with you regarding the numerous on-going and unre...

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12 March 2019

Maxam Absolute Return Fund Limited

We write to you in your capacity as Director of the Fund. We refer to the Warning Notice posted on our Website dated 31 January 20...

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12 March 2019

APAM Protected Asset Management Unit Trust

The Authority is satisfied that the Fund has ceased to carry on, or attempt to carry on, business as a mutual fund. Despite rep...

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01 February 2019

First Financial Insurance Brokers

The Authority is, pursuant to sections 24 (1) (a), (d) and (f) of the Law, is of the opinion that (1) the Company is or appears li...

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31 January 2019

Keydata International Fund SPC

As you are aware on 5 December 2012 the Cayman Islands Monetary Authority ("the Authority), pursuant to section 30 (3) (e) of the ...

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31 January 2019

Upper Canada Securities Ltd.

The Authority is, pursuant to sections 31 (1) (a) and (d) of the Law, satisfied that (i) the mutual fund administrator is or is li...

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31 January 2019

Oak Palm Fund Ltd.

The Authority is, pursuant to sections 30(1)(a) and (d) of the Law, satisfied that (i) the Fund is or is likely to become unable t...

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31 January 2019

China Commonwealthy Fund

The Authority is, pursuant to sections 30 (1) (a) and (d) of the Law, satisfied that (i) the Fund is or is likely to become unabl...

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31 January 2019

Cancellation of Redwood Fund III, Ltd.

We write to you in your capacity as Directors of the Fund. We refer to the Warning Notice dated 5 September 2018.

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31 January 2019

Suspension of John David Geraci

Pursuant to section 25(2)(a) of the Directors Registration and Licensing Law, 2014 (as amended) (“the DRLL”), the Cayman Islan...

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31 January 2019

Suspension of Oliver-Barret Lindsay

Pursuant to section 25(2)(a) of the Directors Registration and Licensing Law, 2014 (as amended) (“the DRLL”), the Cayman Islan...

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31 January 2019

Cancellation of Ryan Kenneth Schroeder

The Cayman Islands Monetary Authority of 80 Shedden Road, Elizabethan Square, PO Box 10052, Grand Cayman KY1-1001, Cayman Islands,

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19 December 2018

Seed Special Opportunities Fund

We write to you in your capacity as Directors of the Fund. We refer to the Warning Notice dated 9 November 2018.

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10 October 2018

Madbury Lane Advisors Fund

The Authority is satisfied that the Funds have ceased to carry on, or attempt to carry on, business as a mutual fund. ...

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14 August 2018

Greenhouse Offshore Fund

The Authority is, pursuant to sections 30 (1) (a) and (d) of the Law, satisfied that (i) the Fund is or is likely to become unable...

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13 June 2018

Infinium Global Fund

As you are aware on 10 September 2014 the Cayman Islands Monetary Authority, pursuant to section 30 (3) (e) of the Mutual Funds La...

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13 June 2018

Global Securities Capital Fund

The Authority has cancelled the Fund's mutual fund registration pursuant to Section 30 (3) (a) of the Law.

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01 May 2018

Quanto Strategic Currency Fund Ltd.

As you are aware on 19 September 2014 the Cayman Islands Monetary Authority, pursuant to section 30 (3) (e) of the Mutual Funds La...

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15 March 2018

Titan Asia Volatility Fund Ltd. and Titan Asia Volatility Fund L.P.

The Authority is, pursuant to sections 30 (1) (a) and (d) of the Law, satisfied that (i) the Funds are; or are likely to become u...

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15 March 2018

Titan Global Return Fund Offshore Ltd. and Titan Global Return Fund L.P.

The Cayman Islands Monetary Authority of 80 Shedden Road, Elizabethan Square, PO Box 10052, Grand Cayman KY1-1001, Cayman Islands

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15 March 2018

Titan Volatility Fund Offshore Ltd. and Titan Volatility Fund L.P.

The Authority has cancelled the Funds' mutual fund registrations pursuant to Section 30 (16) of the Law.

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15 March 2018

Kingsend Capital Partners, Ltd

The Fund remains in breach of Sections 8(1), 8(2) and 9 of the Mutual Funds Law (2015 Revision) ("the Law") for failing to prepare...

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17 October 2017

Radmak International Incorporated Ltd

The Company remains in breach of Sections 7 (1) and (2) and 12 (1) of the Insurance Law, 2010 ("the Law") for failing to pay its a...

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17 October 2017

The Cubex Investment Fund, Ltd.

As you are aware on 6 March 2013 the Cayman Islands Monetary Authority, pursuant to section 30 (3) (e) of the Mutual Funds Law (20...

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17 October 2017

AAA Venture Fund SPC Limited

The Authority is, pursuant to sections 30 (1) (a),(b),(d) and (e) of the Law, satisfied that (i) the Fund is unable to meet its ob...

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17 October 2017

European Underwriters Insurance Company SPC Ltd.

the Company is or appears likely to become unable to meet its obligations as they fall due; (ii) the Company has contravened the L...

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17 October 2017

Cancellation of Robert Neil Aspinall

Pursuant to Section 25(2)(a) of the Directors Registration and Licensing Law, 2014 (as amended) (“the DRLL”), the Cayman Islan...

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17 October 2017

A2 Fund

The Fund remains in breach of Sections 8(1), 8(2) and 9 of the Mutual Funds Law (2015 Revision) (“the Law”) for failing to pre...

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17 October 2017

Ryan Kim Ashley Bateman

The Authority is, pursuant to sections 25(1)(a), (d) and (e) of the DRLL, of the opinion that you, Ryan Kim Ashley Bateman- (1) ar...

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17 October 2017

Canover Norbert Watson

The Cayman Islands Monetary Authority of 80 Shedden Road, Elizabethan Square, PO Box 10052, Grand Cayman KY1-1001, Cayman Islands

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17 October 2017

Robert Neil Aspinall

Pursuant to Section 25(2)(a) of the Directors Registration and Licensing Law, 2014 (as amended) (“the DRLL”), the Cayman Islan...

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17 October 2017

Azure Energy Fund, Inc.

The Cayman Islands Monetary Authority ("the Authority") of 80e Shedden Road, Elizabethan Square, PO Box 10052, Grand Cayman KY...

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