Struck or Dissolved Entities (2019-10-07)

Summary

This is a public notice from the Cayman Islands Monetary Authority (CIMA) confirming that a large number of mutual funds and one Securities Investment Business Law (SIBL) licensee have been removed from the Authority's registers, effective 11 March 2019. Removal followed each entity's failure to satisfy CIMA's termination requirements after being struck off, dissolved, or otherwise ceasing to exist in its jurisdiction of domiciliation.

• Mutual funds: A list of roughly 60 registered mutual funds (identified by registration number and name) have been deregistered because they were struck off, dissolved, dissolved voluntarily, dissolved by court order, terminated, or ceased to exist, or their general partner ceased to exist or was struck off.
• SIBL licensee: Permanent Value Asset Management Inc. (Licence Number 586250) had its licence removed from the register after failing to satisfy termination requirements needed to surrender the licence for cancellation, having been struck off the Companies Register.

The notice is retrospective and informational: it records completed regulatory action taken by CIMA rather than imposing new ongoing requirements on the industry. It serves as public confirmation of the current registration status of the named entities.

Applies to

mutual funds, securities investment business licensee

Deadlines

• 11 March 2019: Effective date on which the listed mutual funds and the SIBL licensee were removed from CIMA's registers