Regulatory Alerts2025-06-04
CIMA Cancels Director Registration of Mr Effendi Under Section 25(2)(a)
The Cayman Islands Monetary Authority has cancelled the director registration of Mr Effendi effective 12 May 2025, citing his failure to maintain fitness and propriety and contravention of the Directors Registration and Licensing Act, 2014. The cancellation was issued pursuant to section 25(2)(a) after the Authority determined that his business conduct was detrimental to public interest and covered entities, compounded by a lack of communication. Mr Effendi retains the right to appeal this decision to the Grand Court under section 27(5) of the Act.
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