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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

Chris Humphries

Managing Director and Head of Funds

Tel:+1 (345) 814-7911

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.

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Publication Recognition - Chambers & Partners
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Publication Recognition - Legal 500
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“Very responsive team with wide knowledge on funds-related issues, including crypto funds.”
Fund Client Testimonial - IFLR 1000
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Client Testimonial - Chambers & Partners
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Fund Client Testimonial - Legal 500
“The partners roll up their sleeves, take great pride in the work they do and go to great lengths to make themselves available.”
Client Testimonial - Chambers & Partners
“Stuarts Humphries, understands the complex issues we face and the firm offers substantial value in relation to the fees charged.”
Legal 500
“They are very thorough, knowledgeable and most importantly very responsive.”
Fund Client Testimonial - IFLR 1000
“Their strongest point is their customer service. They are incredibly responsive and helpful in meeting our deadlines.”
Fund Client Testimonial - Chambers & Partners
“They provide straightforward, practical advice and the level of attention we receive is very high. They are good at dealing with commercial matters in a commercial context.”
Legal 500

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