Cayman Islands

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Star Insurance Company (Cayman) Ltd.: CI$72K Fine

March 25, 2021
Public Notice by the Cayman Islands Monetary Authority that it was imposed a fine of CI$72,800 on Star Insurance Company (Cayman) Ltd. for regulatory breaches. Editor's Note: Research by OffshoreAlert in the Cayman Islands General Registry showed that the directors of Star Insurance Company (Cayman) Ltd. are identified as Barry Benjamin, Bohdan Petro Martiuk. and Lawrence Chastang.

CTS Captive Management (Cayman) Ltd.: License Revocation

January 5, 2021
Decision Notice by the Cayman Islands Monetary Authority to revoke the Insurance Manager's License of CTS Captive Management (Cayman), Ltd. for regulatory breaches, including insolvency. Editor's Note: The directors of CTS Captive Management (Cayman), Ltd. are identified in the Decision Notice as John Rearer and Sarah Perry. Research by OffshoreAlert found that they are also senior officers of ALIC Underwriters, which is described on its website at alicunderwriters.com as "a Managing General Underwriter and Wholesale Insurance Broker, located in Fort Lauderdale, Florida".

Western International Trust Company Ltd.: CI$482K Fine

December 22, 2020
Public Notice by the Cayman Islands Monetary Authority that it has imposed a fine of CI$482,717 on Western International Trust Company Limited for regulatory breaches. Editor's Note: Research by OffshoreAlert in the Cayman Islands General Registry showed that the directors of Western International Trust Company Limited are Barry Bret Benjamin and Bohdan Petro Martiuk.

Three Lakes Insurance Company Ltd. et al: Cayman Strike-Offs

December 16, 2020
Public Notice by the Cayman Islands Monetary Authority that insurers Three Lakes Insurance Company Ltd., Scottish Annuity & Life Insurance Company (Cayman) Ltd., Northwestern Memorial Insurance Company, and Centegra Insurance Services Ltd. "failed to satisfy the Authority's termination requirements in order to surrender their licences for cancellation" and, therefore, have been "struck off the Companies Register".

Cainvest Bank and Trust Ltd.: CI$100K Fine

November 10, 2020
Public Notice by the Cayman Islands Monetary Authority that it has imposed a fine of CI$100,000 on Cainvest Bank and Trust Limited for regulatory breaches.

Platinum Partners Funds et al: License Cancellations

October 15, 2020
Decision Notice by the Cayman Islands Monetary Authority Platinum Funds cancelling the mutual fund registrations of Platinum Partners Credit Opportunities Fund International (A), Ltd., Platinum Partners Credit Opportunities Fund International, Ltd., Platinum Partners Liquid Opportunity Fund (International) Ltd., and Platinum Partners Liquid Opportunity Master Fund L.P. for regulatory breaches, including suspected insolvency and Mark Alan Nordlicht not being "a fit and proper person".

Premier Assurance Group SPC Ltd.: Public Notice

September 23, 2020
Public Notice by the Cayman Islands Monetary Authority announcing it has appointed Jeffrey Stower and Jason Robinson, of KPMG, to assume control of Premier Assurance Group SPC Ltd. and "found Jorge Eduardo Falcon and Leonardo Cornide, two of Premier's directors, not fit and proper to hold the position of director of a licensee".

Hinduja Bank & Trust (Cayman) Ltd.: License Revocation

May 27, 2020
Decision Notice by the Cayman Islands Monetary Authority revoking the banking license of Hinduja Bank & Trust (Cayman) Ltd., whose "sole director" was identified as Gilbert Pfaeffli, who appears to be based in Switzerland.

Balkan Investment Opportunity Fund: License Cancellation

April 22, 2020
Decision Notice by the Cayman Islands Monetary Authority cancelling the mutual fund registration of Balkan Investment Opportunity Fund. Editor's Note: Research by OffshoreAlert showed that Balkan Investment Opportunity Fund is based in Croatia and has a website at www.biof.biz, where its service providers are identified as Balkan Investment Management Limited, investment manager; Vrijednosnice Osijek d.o.o., administrator; Crowe Horwath Cayman Ltd., auditor; and Forbes Hare Trust Company Ltd., registered agent. The individuals identified on the website's 'Our Team' page are Alexander Hrkač, "Director - Fund Manager", and Adisa Balić, "Director - Risk Manager".

KTH Capital Ltd.: Fund Cancellation

January 2, 2020
Decision Notice by the Cayman Islands Monetary Authority announcing the cancellation of the mutual fund registration of KTH Capital Limited, whose directors are identified as Du Wang and Vivian Ding Li.

Roland Kaehler: Director Cancellation

October 29, 2019
Decision Notice by the Cayman Islands Monetary Authority announcing the cancellation of the director registration of Roland Frederick Kaehler, of Beverstone Fund Management, with an address in the Czech Republic, for not being "a fit and proper person"

John Geraci: Director Cancellation

October 29, 2019
Decision Notice by the Cayman Islands Monetary Authority announcing the cancellation of the director registration of John David Geraci, of Pinecrest, Florida, for not being "a fit and proper person".

Mark Graham: Director Cancellation

October 29, 2019
Decision Notice by the Cayman Islands Monetary Authority announcing the cancellation of the director registration of Mark R. Graham, of New York, NY, for not being "a fit and proper person". Graham was the majority equity owner of Cayman Islands-domiciled Alpha Re Limited, which has been accused of fraud.

OneTRADEx Ltd.: Public Notice of Controllership

July 19, 2019
Public Notice by the Cayman Islands Monetary Authority regarding controllers being appointed for OneTRADEx Ltd., an online discount broker whose owners and operators appear to be Canadian.

Oliver-Barret Lindsay: License Cancellation

June 14, 2019
Decision Notice by the Cayman Islands Monetary Authority regarding the cancellation of the director registration of Oliver-Barret Lindsay, a citizen of Canada.

Roland Kaehler: License Suspension

June 14, 2019
Decision Notice by the Cayman Islands Monetary Authority regarding the license suspension of Roland Fredrick Kaehler, a citizen of Canada.

Beechwood Re: Liquidation Notice

November 30, 2018
Public Notice by the Cayman Islands Monetary Authority announcing that Beechwood Re has been placed into Official Liquidation.