Regulatory Alerts2023-10-19
Cayman Islands Monetary Authority Revokes Category B Banking Licence of Trade and Commerce Bank
The Cayman Islands Monetary Authority has revoked the Category B Banking Licence of Trade and Commerce Bank pursuant to section 18(5)(b) of the Banks and Trust Companies Act. The revocation follows the Licensee’s entry into provisional liquidation in July 2002 and official liquidation in August 2002, confirming its cessation of ordinary banking operations. This decision takes effect on 13 October 2023 and is formally communicated to the Joint Official Liquidators.
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