Decision Notice - KTH Capital Limited (2020-01-02)

Summary

This is a Decision Notice from CIMA addressed to the Directors of KTH Capital Limited, a registered mutual fund, announcing the cancellation of the Fund's mutual fund registration. It follows an earlier Warning Notice dated 13 November 2019 concerning the Fund's ongoing failure to comply with audited accounts requirements.

• Breach identified: The Fund failed to prepare and submit audited accounts for the financial years ended December 2002 through December 2018, in breach of sections 8(1) and 8(2) of the Mutual Funds Law (2019 Revision).
• Action taken: CIMA cancelled the Fund's mutual fund registration under section 30(16) of the Law.
• Reasons given: CIMA was satisfied the Fund had ceased to carry on, or attempt to carry on, business as a mutual fund, and had been unable to become compliant despite repeated requests.
• Effective date: The cancellation decision took effect on 27 December 2019.

This notice is specific to KTH Capital Limited and is purely informational for other market participants; it documents a completed regulatory enforcement action rather than imposing any ongoing industry-wide requirement.

Applies to

mutual funds, directors of mutual funds

Deadlines

• 27 December 2019: Effective date of CIMA's decision to cancel KTH Capital Limited's mutual fund registration