Decision Notice - Infinium Global Fund (2018-05-01)

Summary

This is a Decision Notice from CIMA cancelling the mutual fund registration of Infinium Global Fund (Reg. #17128). It is addressed to the Fund's directors and documents the regulatory action taken, its legal basis, and the reasons behind it.

• Background: CIMA had appointed controllers over the Fund in September 2014 under section 30(3)(e) of the Mutual Funds Law (2013 Revision); that controllership has since ended with no funding available to complete a formal winding up.
• Action taken: CIMA cancelled the Fund's mutual fund registration under section 30(3)(a) of the Mutual Funds Law (2015 Revision).
• Reasons cited: Under sections 30(1)(a),(b),(d) and (e) of the Law, CIMA found the Fund unable to meet its obligations as they fall due, carrying on business prejudicial to investors or creditors, not directed and managed in a fit and proper manner, and that directors Anton Kalyta and Andriy Kalyta are not fit and proper persons to serve as directors of a regulated mutual fund.
• Effective date: The cancellation decision is effective 17 April 2018.

This notice is specific to Infinium Global Fund and its named directors; it is informational as to that entity rather than a rule of general application, and does not impose new ongoing compliance obligations on other regulated persons.

Applies to

mutual funds, directors of regulated mutual funds

Deadlines

• 17 April 2018: Effective date of CIMA's decision to cancel the Fund's mutual fund registration.