Regulatory Alerts2019-03-12
Cayman Islands Monetary Authority Decision Notice – Cancellation of Registration for APAM Protected Asset Management Unit Trust
The Cayman Islands Monetary Authority has cancelled the mutual fund registration of APAM Protected Asset Management Unit Trust effective 12 March 2019. This action addresses the Fund's prolonged breaches of the Mutual Funds Law, specifically its failure to submit audited accounts for 2000 through 2017 and pay required annual fees and penalties from 2003 to 2019. The regulator determined that the Fund has ceased operating as a mutual fund and failed to meet termination compliance despite repeated requests.
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