CIMA Withdraws Fines Against Sterling Asset Management International (2023-05-04)

Summary

This is a short enforcement notice from CIMA reporting the withdrawal of a fine previously imposed on Sterling Asset Management International Limited. It has no continuing regulatory requirement for other entities and is purely informational.

• Original fine: On 6 May 2022, CIMA imposed discretionary fines totalling CI$299,050.00 on Sterling Asset Management International Limited.
• Appeal: The Company was granted leave to appeal the Fine Notice in FSD Cause No. 124 of 2022 (IKJ).
• Outcome: By a Consent Order dated 21 April 2023, CIMA withdrew the 6 May 2022 fine notice in its entirety, so no discretionary fines remain imposed against the Company.

The notice serves only to record that the earlier enforcement action against this specific licensee has been reversed; it creates no new obligations for other regulated entities.