Regulatory Alerts2019-06-14
CIMA Cancels Director Registration of Mr. Oliver-Barrett Lindsay
The Cayman Islands Monetary Authority has cancelled the director registration of Mr. Oliver-Barrett Lindsay effective 13 June 2019. This action was taken pursuant to sections 25(1)(a), (b) and (e) of the DRLL due to his detrimental business practices, statutory contraventions, and lack of fitness as a registered director. The decision formally removes his regulatory standing to ensure compliance with the Directors' Registration and Licensing Law.
The following is an official extract of a Decision Notice sent to the director(s) of a licensee Re: Decision Notice – Mr. Oliver-Barrett Lindsay (Reg.#2363406) 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 DRLL, the Cayman Islands Monetary Authority has cancelled the director registration held by Mr. Lindsay. REASONS: Pursuant to sections 25(1)(a), (b) and (e) of the DRLL, the Authority is of the opinion that Mr. Lindsay: (1) is carrying on business in a manner detrimental to the public interest; (2) has contravened the DRLL; and (3) 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 13 June 2019. SIX, Cricket Square P.O. Box 10052 Grand Cayman KY1–1001, Cayman Islands Tel +1 345 949-7089 www.cima.ky