Cayman Islands Monetary Authority Cancels Director Registration of Mr. Dzintars Derkacs

[Logo: Cayman Islands Monetary Authority]

The following is an official extract of a Decision Notice sent to Mr. Dzintars Derkacs

Re: DECISION NOTICE – Mr. Dzintars Derkacs (Director Registration #2780201)

We refer to our Warning Notice dated 05 December 2023.

You remain in breach of section 6(2) of the Directors Registration and Licensing Act, 2014 (as amended) (“the Act”) for failure to provide to the Cayman Islands Monetary Authority (“the Authority”), information in the prescribed form and for failing to pay to the Authority the prescribed annual fees for 2021 through 2024 on or before the 15 January in each calendar year.

TAKE NOTICE:
The Cayman Islands Monetary Authority of SIX, Cricket Square, P.O. Box 10052, Grand Cayman KY1-1001, Cayman Islands, has taken the following action:

ACTION:
The Authority, pursuant to section 25(2)(a) of the Act, has cancelled the registration held by Mr. Dzintars Derkacs as a registered director.

REASONS:
The Authority, pursuant to section 25(1)(b) of the Act, is of the opinion that, Mr. Dzintars Derkacs has contravened the Act.

EFFECTIVE DATE OF DECISION:
The Authority’s decision regarding the above action is effective 09 February 2024.

RIGHT TO APPEAL:
Mr. Dzintars Derkacs has the right to appeal the Authority’s decision under section 27(5) of the Act. An appeal lies to the court of the Cayman Islands from a decision of the Authority made under section 25 of the Act and the procedure for doing so is set out in detail in section 27(5) of the Act.

SIX, Cricket Square
P.O. Box 10052 Grand Cayman KY1-1001, Cayman Islands Tel +1 345 949-7089 www.cima.ky