Non-compliant Cayman directors named and shamed

CIMA has published a list of 1,369 registered Cayman directors who are not compliant with its Directors Registration and Licensing Act. These directors are threatened with cancelled licenses and other penalties.

CIMA states that the directors that it has named must provide the information demanded by January 15 or they will lose their licenses.
CIMA adds that the failure of these 1,369 registered Cayman directors to respond to repeated requests for information from the Authority will be taken into account when determining their fitness and proprietary to act as an authorised person.

For more on this story see the December issue of The NED.