The Cayman Islands Monetary Authority cancelled the registrations of three securities firms after they failed to meet regulatory requirements.
RSIF Management Limited and RC Advisory Limited had their registrations as securities-registered persons cancelled by CIMA on 2 June, after both firms failed to file annual declarations in 2023, 2024 and 2025. The notices also stated that the companies had not paid the annual fees and accrued penalties due to the authority for each of those years.
CIMA said the firms also failed to appoint people to key anti-money laundering positions, such as an anti-money laundering compliance officer and a money laundering reporting officer. The notices also called out both firms for “failing to maintain a minimum of two directors who are individuals, or one corporate director”.
The authority said it had been unable to communicate with the firms and noted that neither company had maintained a registered office.
The notices warned that the “lack of communication with the Authority” may be a factor when CIMA assesses “fitness and propriety” in the future.
The third firm to see its registration cancelled by CIMA was Blue Ravine Capital Limited. The notice said, the company “has not conducted the direction and management of its business in a fit and proper manner and had directors who were not fit and proper persons as well as an ultimate beneficial owner who is not fit and proper to own or control the Registrant”.
In a separate, 5 June notice, CIMA said that 38 entities “have been removed from the Authority’s register as they have been struck from the Registers of the General Registry or have a status of Dissolved”.
One of the entities removed was cryptocurrency fund, Prochain Master Fund LP.
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