Regulatory Alerts2018-10-16
CIMA Decision Notice – Cancellation of Director Registration for Mr. Ryan Kenneth Schroeder
The Cayman Islands Monetary Authority has cancelled the director registration of Mr. Ryan Kenneth Schroeder under section 25(1)(e) of the Directors Registration and Licensing Law, 2014. The regulator concluded that Mr. Schroeder fails the fit and proper person test required for registered directors. This action became effective on 18 October 2018, formally stripping him of his regulatory directorship status.
The following is an official extract of a Decision Notice sent to the director(s) of a licensee Re: Decision Notice – Mr. Ryan Kenneth Schroeder (Reg. #2367212) TAKE NOTICE: The Cayman Islands Monetary Authority of 80 Shedden Road, Elizabethan Square, PO Box 10052, Grand Cayman KY1-1001, Cayman Islands, has taken the following action: ACTION: Pursuant to section 25(2)(a) of the Directors Registration and Licensing Law, 2014 (as amended) (“the DRLL”), the Cayman Islands Monetary Authority (“the Authority”) has cancelled the director registration held by Mr. Ryan Kenneth Schroeder (“Mr. Schroeder”). REASONS: Pursuant to section 25(1)(e) of the DRLL, the Authority is of the opinion that Mr. Schroeder is a person that is not a fit and proper person to hold a position as a registered director. EFFECTIVE DATE OF DECISION: The Authority’s decision regarding the above action is effective 18 October 2018. SIX, Cricket Square P.O. Box 10052 Grand Cayman KY1–1001, Cayman Islands Tel +1 345 949-7089 www.cima.ky