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Termination of Funds Registration LUT or LUL

The Cayman Islands Monetary Authority issued a notice in September 2016 for funds that have been in Licence Under Liquidation or Licence Under Termination.

The Cayman Islands Monetary Authority (“CIMA”) issued a notice in September 2016 advising that for funds that have been in Licence Under Liquidation (“LUL”) or Licence Under Termination (“LUT”) for more than six months, CIMA will contact the fund via its Registered or Principal Office in order to collect any outstanding documents or fees; failing which, CIMA will cancel the Certificate of Registration or Mutual Fund Licence as an administrative action. Where such an administrative cancellation takes place, CIMA may take this into consideration when assessing the fitness and propriety of the fund’s operators.

Contact our experts for further advice

View profile for Chris HumphriesChris Humphries
Managing Director and Head of Funds

This publication is for general guidance and is not intended to be a substitute for specific legal advice. Specialist advice should be sought about specific circumstances.