Cayman Islands Monetary Authority Suspends Director Registration of Mr. John David Geraci

The following is an official extract of a Decision Notice sent to the director(s) of a licensee Re: Decision Notice – Mr. John David Geraci (Reg.# 2082625) TAKE NOTICE:
The Cayman Islands Monetary Authority of 80 Shedden Road, Elizabethan Square, P.O. 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 suspended the director registration held by Mr. John David Geraci (“Mr. Geraci”). REASONS:
Pursuant to sections 25(1)(b) and (e) of the DRLL, the Authority is of the opinion that Mr. Geraci has contravened the DRLL and 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