Decision Notice - Traded Life Policies Fund (Reg. #899253) - Mutual Fund Registration Cancelled (2025-12-10)

Summary

This is a Decision Notice published by CIMA announcing that it has cancelled the mutual fund registration of Traded Life Policies Fund (Reg. #899253), which is in official liquidation. The notice is addressed to the Fund's Joint Official Liquidators and confirms CIMA followed through on an earlier Warning Notice dated 20 December 2024.

• Action taken: CIMA cancelled the Fund's mutual fund registration under section 30(3)(a) of the Mutual Funds Act (2025 Revision).
• Grounds relied on: CIMA found, under sections 30(1)(a), (d) and (e) of the Act, that the Fund is unable to meet its obligations as they fall due, that its direction and management was not conducted in a fit and proper manner, and that director Mr. Jeremy Leach is not a fit and proper person to hold a director position in a regulated mutual fund.
• Background: The Fund was placed into official liquidation on 21 July 2017 and its management has been subject to legal proceedings in the Grand Court (FSD 140 of 2019 (CRJ)).
• Effective date: The cancellation decision is effective 25 November 2025.
• Appeal right: The Fund may appeal CIMA's decision to the Grand Court under section 36 of the Act.

This notice is purely informational for the wider public record; it does not impose new ongoing compliance obligations on other regulated entities, but confirms the regulatory status change for this specific fund and its liquidators/directors.

Applies to

mutual funds, joint official liquidators of a registered mutual fund, directors of a regulated mutual fund

Deadlines

• 25 November 2025: Effective date on which the Fund's mutual fund registration was cancelled.