Termination of Struck or Dissolved Entities (2023-12-11)

Summary

This is a CIMA enforcement notice publishing a list of Cayman Islands funds and one registered person that failed to satisfy the Authority's termination requirements before being struck off the General Registry's Registers. As a result, CIMA has removed these entities from its own register, effective 11 December 2023. The notice is informational, identifying by licence number and name which regulated entities have lost their licensed or registered status through this process.

• Entities covered: Over 150 entities are listed, spanning Mutual Fund - Registered, Mutual Fund - Master Fund, Mutual Fund - Administered, Mutual Fund - Limited Investor, Private Fund, and one Registered Person (securities).
• Reason for removal: Each entity failed to complete CIMA's required termination process (e.g. filing final accounts, notifying the Authority) before being struck off by the General Registry, triggering automatic removal from CIMA's register.
• Effect: These entities no longer hold their mutual fund, private fund or registered person status with CIMA as of 11 December 2023.

The notice serves as a reminder that funds and private funds intending to wind down must properly complete CIMA's termination formalities rather than simply allowing the General Registry to strike them off, since the latter route results in involuntary deregistration rather than an orderly termination.

Key obligations

• Regulated mutual funds and private funds intending to cease operations must complete CIMA's termination requirements (rather than being struck off by the General Registry) to avoid involuntary removal from CIMA's register.

Applies to

Mutual Fund - Registered, Mutual Fund - Master Fund, Mutual Fund - Administered, Mutual Fund - Limited Investor, Private Fund, Registered Person

Deadlines

• 11 December 2023: Effective date on which the listed entities were removed from CIMA's register following being struck from the General Registry's Registers.