The Cayman Islands Monetary Authority (CIMA) is aware of the US$6 million settlement reached with the United States Department of Justice by Cayman National Trust Co. Ltd. and Cayman National Securities Ltd.
The two companies are among the regulated subsidiaries of Cayman National Corporation in the Cayman Islands.
While the Authority is not at liberty to discuss publicly any specifics regarding the affairs of the licensees we supervise, we will of course consider the implications of the matters raised in the investigation by the US authorities as revealed in the Court proceedings within the scope of our regulatory mandate.
CIMA has been assured that the settlement by Cayman National Trust Co. Ltd. and Cayman National Securities Ltd. should have no adverse impact on the solvency of Cayman National Bank Ltd.
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