Regulatory Alerts2018-10-10
Cancellation of Mutual Fund Registrations for Madbury Lane Advisors Funds No. 3 and Offshore Investors
The Cayman Islands Monetary Authority cancels the mutual fund registrations of Madbury Lane Advisors Fund No. 3 and its Offshore Investors entity under Section 30(16) of the Mutual Funds Law. This regulatory action resolves the funds' historical non-compliance by addressing their failure to submit audited accounts for 2006 through 2017 and pay annual registration fees and penalties from 2007 to 2018. Effective 9 October 2018, the decision confirms that the funds have ceased active mutual fund operations and remain non-compliant with statutory termination requirements.
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