Regulatory Alerts2018-10-18
CIMA Suspends Director Registration of Mr. Oliver-Barret Lindsay Under the DRLL
The Cayman Islands Monetary Authority has suspended the director registration of Mr. Oliver-Barret Lindsay effective 18 October 2018. CIMA determined that Mr. Lindsay contravened the Directors Registration and Licensing Law, 2014, by failing to meet the statutory fit and proper requirements for registered directors. This administrative action formally revokes his current registration status under section 25(2)(a) of the legislation.
The following is an official extract of a Decision Notice sent to the director(s) of a licensee Re: Decision Notice – Mr. Oliver-Barret Lindsay (Reg. #2363406) 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. Oliver-Barret Lindsay (“Mr. Lindsay”). REASONS: Pursuant to sections 25(1)(b) and (e) of the DRLL, the Authority is of the opinion that Mr. Lindsay 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