De-registration of SIBL Excluded Persons (2020-03-09)

Summary

This is a public notice issued by the Cayman Islands Monetary Authority (CIMA) on 9 March 2020 announcing that a specified list of entities previously registered as "excluded persons" under the Securities Investment Business Law (2019 Revision) have been deregistered. The deregistration follows their failure to provide required information to CIMA by the statutory deadline of 15 January 2020, an obligation introduced by section 21(1)(a) of the Securities Investment Business (Amendment) Law, 2019 and previously flagged in an Original Notice dated 19 June 2019 and a reminder notice dated 9 August 2019.

The notice itself does not create new ongoing obligations for the industry; it is a retrospective enforcement announcement.

• Lists, by registration number and name, all SIBL Excluded Persons that failed to comply.
• Confirms that, pursuant to section 21(2)(b) of the SIB Amendment Law, these entities have now been deregistered and are no longer authorised to conduct securities investment business in or from within the Cayman Islands.

Compliance officers should treat this as a factual/historical record relevant to due diligence (e.g., confirming counterparty status) rather than as a document imposing new compliance duties. Any entity named in the list that wishes to resume securities investment business would need to pursue fresh registration or licensing separately, though this notice does not itself set out that process.

Applies to

SIBL Excluded Persons (persons registered as excluded persons under the Securities Investment Business Law)

Deadlines

• 15 January 2020: Statutory deadline by which SIBL Excluded Persons were required to provide the information specified in the Original Notice to CIMA under section 21(1)(a) of the SIB Amendment Law; failure to meet this deadline resulted in deregistration as announced in this notice.