Regulatory Alerts2018-11-28
Cayman Islands Monetary Authority Decision Notice – Cancellation of China Commonwealth Fund Registration
The Cayman Islands Monetary Authority has cancelled the mutual fund registration of China Commonwealth Fund effective 28 November 2018. This action addresses the Fund's failure to submit audited accounts for 2014 through 2017 and its directors' non-compliance with statutory registration requirements for 2015 through 2018. CIMA invoked sections 30(1)(a) and (d) of the Mutual Funds Law to conclude that the Fund is likely unable to meet its obligations and has not been managed in a fit and proper manner.
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