Statement on Cayman National Entities Settlement (2017-10-17)

Summary

This is a short public statement issued by the Cayman Islands Monetary Authority (CIMA) on 17 October 2017 addressing a US$6 million settlement reached between the US Department of Justice and two Cayman-based entities, Cayman National Trust Co. Ltd. and Cayman National Securities Ltd. Both companies are regulated subsidiaries of Cayman National Corporation.

• Confidentiality: CIMA notes that it cannot publicly discuss the specifics of licensees it supervises.
• Regulatory follow-up: CIMA confirms it will consider the implications of the matters raised in the US investigation within its regulatory mandate.
• Solvency assurance: The statement assures the public that the settlement should not adversely affect the solvency of the related entity, Cayman National Bank Ltd.

This is purely an informational notice acknowledging a third-party legal settlement and does not itself impose any new rules, filing requirements, or compliance obligations on regulated entities.

Applies to

Cayman National Trust Co. Ltd., Cayman National Securities Ltd., Cayman National Bank Ltd.