Intertrust Cayman receives administrative penalty
14 Mai 2021 - 9:03AM
Intertrust Cayman receives administrative penalty
PRESS RELEASE: Amsterdam – 14 May 2021.
Intertrust N.V. (“Intertrust”) [Euronext:
INTER], a global leader in providing tech-enabled
corporate and fund solutions to clients operating and investing in
international business, announces that on 13 May 2021, the Cayman
Islands Monetary Authority (CIMA) issued to Intertrust Corporate
Services (Cayman) Limited, a subsidiary of Intertrust N.V., formal
notice of an administrative fine in the amount of CI $4,232,607.50
arising from breaches of specific statutory obligations under the
Cayman Islands Anti-Money Laundering (AML) Regulations identified
during an onsite inspection conducted in February 2020. The
breaches alleged are administrative in nature and there is no
suggestion that Intertrust has engaged in or facilitated its
clients engaging in money laundering activities.
The notice affords Intertrust a period of 30 days in which to
lodge an appeal against the administrative penalty and we are
currently engaged with counsel to consider all available options in
response to this notice.
Intertrust recognises the seriousness of the matter and is
committed to make every effort to fulfil its role as
gatekeeper.
About IntertrustIntertrust has 4,000+ employees
who are dedicated to providing world-leading, specialised
administration services to clients in over 30 jurisdictions. This
is amplified by the support we offer across our approved partner
network which covers a further 120+ jurisdictions. Our focus on
bespoke corporate, fund, capital market and private wealth services
enable our clients to invest, grow and thrive anywhere in the
world. Sitting at the heart of international business, our local,
expert knowledge and innovative, proprietary technology combine to
deliver a compelling proposition – all of which keeps our clients
one step ahead.
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- Intertrust Cayman receives administrative penalty