Decision Notice - Securities Registration Cancelled for Valor Capital (2024-02-21)

Summary

This is a Decision Notice published by CIMA disclosing that it has cancelled the Securities - Registered Person registration of Valor Capital (Req. #1598590), following an earlier Warning Notice dated 5 December 2023. The notice was issued to the company's director and shareholder and records the breaches found and the cancellation action taken.

• Breach 1: Failing to file annual declarations for 2023 and 2024, contrary to section 5(4E)(a) of the Securities Investment Business Act (2020 Revision).
• Breach 2: Failing to pay prescribed annual fees and accrued penalties for 2023 and 2024, contrary to section 5(4E)(b) of the Act.
• Breach 3: Failing to maintain a minimum of two directors each complying with the Directors Registration and Licensing Act, 2014, contrary to section 15(4)(a) of the Act.
• Action taken: CIMA cancelled the Registrant's Securities - Registered Person registration under section 17(2A)(a) of the Act, effective 09 February 2024, on grounds under sections 17(2)(c) and (e) that the Registrant contravened the Act and failed to conduct its business in a fit and proper manner.
• Appeal: The Registrant has a right of appeal to the court of the Cayman Islands under section 22 of the Act.

This notice is a public disclosure of a completed enforcement decision against a single named entity; it does not itself impose new ongoing obligations on other regulated persons, though it illustrates CIMA's enforcement of annual declaration, fee payment, and director registration requirements under the Securities Investment Business Act.

Applies to

Securities - Registered Persons, directors of registered persons under the Securities Investment Business Act

Deadlines

• 09 February 2024: Effective date of CIMA's decision to cancel Valor Capital's Securities - Registered Person registration.