Cayman Islands corporate services provider Intertrust has abandoned its legal challenge against a fine of CI$4.2 million imposed by the Cayman Islands Monetary Authority, agreeing to pay not only the full amount of the fine but an additional CI$767,392 towards the regulator's legal fees.
Intertrust Corporate Services has been fined CI$4.2 million by the Cayman Islands Monetary Authority for breaching the jurisdiction's Anti-Money Laundering Regulations. Separately, Maples Group law firm announced it was seeking a judicial review of CIMA's "interpretation and application" of the regulations.