ADVERTISEMENT
  • About Us
  • Contact
  • Advertise
  • Privacy Policy
  • Terms and Conditions
Saturday, September 23, 2023
No Result
View All Result
NEWSLETTER
Cayman Marl Road
  • Home
  • CMR Daily Buzz
  • Cayman’s Youth
  • Parliament
  • Live Show
  • COVID-19
  • Election 2021
  • Legal Notices
  • Entertainment
    • All
    • Events
    • Music
    Miss Universe removes upper age limit

    Miss Universe removes upper age limit

    Love & Hip Hop star fired after calling Spice ‘monkey’

    Love & Hip Hop star fired after calling Spice ‘monkey’

    Jimmy Buffett, ‘Margaritaville’ singer, dies

    Jimmy Buffett, ‘Margaritaville’ singer, dies

    Reggae artist Queen Ifrica accuses dad of rape

    Reggae artist Queen Ifrica accuses dad of rape

    Bob Barker, host of ‘The Price is Right,’ dies at 99

    Bob Barker, host of ‘The Price is Right,’ dies at 99

    Hollywood actors and writers strike

    Hollywood actors and writers strike

    Caymanian Jazz Pitcairn’s work nominated for Emmy award

    Caymanian Jazz Pitcairn’s work nominated for Emmy award

    Camana Bay Cinema charges extra for premium seating to offset operation cost

    Camana Bay Cinema charges extra for premium seating to offset operation cost

    CayMAS apologizes for debris left along parade route

    CayMAS apologizes for debris left along parade route

  • Lifestyle
    • All
    • Food
    • Health
    • Medical Experts
    RUMOR: Dengue Fever in Cayman?

    Dengue fever reaches Cayman

    Accident & Emergency walk-in entrance now accessible

    A&E and Urgent Care Clinic temporarily relocate this weekend

    Food Hygiene training resumes this week

    Food Hygiene training resumes this week

    Health Ministry names incoming Chief Medical Officer

    CMO issues guidance on possession and use of Cannabinol

    German man cured of HIV

    HSA and Red Cross partner to offer free HIV testing

    Woman dies after drinking too much water

    Woman dies after drinking too much water

    UK investigates link between weight-loss drugs and suicidal thoughts

    UK investigates link between weight-loss drugs and suicidal thoughts

    HSA offers new geriatric service for patients 60 and over

    HSA offers new geriatric service for patients 60 and over

    TCHT: Medical Rundown – Bariatric Weight Loss Surgery

    Popular weight loss drugs cause stomach paralysis

    Government introduces mandatory health screening for children

    Symptoms you should not ignore in a child

    Trending Tags

  • Home
  • CMR Daily Buzz
  • Cayman’s Youth
  • Parliament
  • Live Show
  • COVID-19
  • Election 2021
  • Legal Notices
  • Entertainment
    • All
    • Events
    • Music
    Miss Universe removes upper age limit

    Miss Universe removes upper age limit

    Love & Hip Hop star fired after calling Spice ‘monkey’

    Love & Hip Hop star fired after calling Spice ‘monkey’

    Jimmy Buffett, ‘Margaritaville’ singer, dies

    Jimmy Buffett, ‘Margaritaville’ singer, dies

    Reggae artist Queen Ifrica accuses dad of rape

    Reggae artist Queen Ifrica accuses dad of rape

    Bob Barker, host of ‘The Price is Right,’ dies at 99

    Bob Barker, host of ‘The Price is Right,’ dies at 99

    Hollywood actors and writers strike

    Hollywood actors and writers strike

    Caymanian Jazz Pitcairn’s work nominated for Emmy award

    Caymanian Jazz Pitcairn’s work nominated for Emmy award

    Camana Bay Cinema charges extra for premium seating to offset operation cost

    Camana Bay Cinema charges extra for premium seating to offset operation cost

    CayMAS apologizes for debris left along parade route

    CayMAS apologizes for debris left along parade route

  • Lifestyle
    • All
    • Food
    • Health
    • Medical Experts
    RUMOR: Dengue Fever in Cayman?

    Dengue fever reaches Cayman

    Accident & Emergency walk-in entrance now accessible

    A&E and Urgent Care Clinic temporarily relocate this weekend

    Food Hygiene training resumes this week

    Food Hygiene training resumes this week

    Health Ministry names incoming Chief Medical Officer

    CMO issues guidance on possession and use of Cannabinol

    German man cured of HIV

    HSA and Red Cross partner to offer free HIV testing

    Woman dies after drinking too much water

    Woman dies after drinking too much water

    UK investigates link between weight-loss drugs and suicidal thoughts

    UK investigates link between weight-loss drugs and suicidal thoughts

    HSA offers new geriatric service for patients 60 and over

    HSA offers new geriatric service for patients 60 and over

    TCHT: Medical Rundown – Bariatric Weight Loss Surgery

    Popular weight loss drugs cause stomach paralysis

    Government introduces mandatory health screening for children

    Symptoms you should not ignore in a child

    Trending Tags

No Result
View All Result
Cayman Marl Road
No Result
View All Result

CIMA cancels license of mismanaged Obelisk Global Fund

by Renae Stampp
June 06, 2022
in Business
0
CIMA cancels license of mismanaged Obelisk Global Fund
43
SHARES
Share on FacebookShare on TwitterShare on Whatsapp

(CMR) The Cayman Islands Monetary Authority has canceled the mutual fund license of Obelisk Global Fund SPC due to the Fund being unable to meet its obligations, mismanagement,  and breaches of the Mutual Fund Act.

In a Decision Notice published 31 May, CIMA stated that the Fund is or is likely to become unable to meet its obligations as they fall due and that the Fund has contravened the Act.

The Notice went on to state that the direction and management of the Fund has not been conducted in a fit and proper manner.

In relation to its management, the Notice also stated that Lawrence Winfield Sifton and Matthew Yiu Kong Ho are not fit and proper persons to hold a position as a director, manager, or officer of a regulated mutual fund; and  Jazeb Matthew Jones is not a fit and proper person to hold a controlled function.

According to obeliskglobal.com, Obelisk Global is an investment platform engineered to develop bespoke investment and white label products utilizing its relationships with proven regulated Asset Managers throughout Europe, Asia, North America and Latin America.

The Obelisk group has been before the Cayman Islands Grand Court over the last two years, starting in 2020 when two investors alleging they were owed $448,333 in unpaid loans successfully petitioned Obelisk Capital Management Ltd. into liquidation, Offshore Alert reported.

In 2021, the liquidators applied for a Receiver to be appointed over Obelisk Global Gold Focus Fund, but the application was denied on a technicality even though the judge and the Fund itself acknowledged that it was insolvent, Offshore Alert reported.

A separate application to force Obelisk Global Gold Focus Fund into receivership was filed less than two months ago by an investor who claimed she could not redeem her $600,000 investment, according to Offshore Alert.

Related posts:

AL Thompson's buys Cox Lumber
CUC seeks qualified natural gas supplier
Deputy chair breaches permit law
Interest in Cayman Insurance Industry remains strong
Share your vote!


No, thanks.
How do you feel after reading this?
  • Fascinated
  • Happy
  • Sad
  • Angry
  • Bored
  • Afraid
Tags: Obelisk Global
Renae Stampp

Renae Stampp

A regional writer with almost 10 years of experience working in various news media including two major media houses in Bermuda and Jamaica. Renae provides professional content for our regional and international audience.

Related Posts

AL Thompson’s buys Cox Lumber

AL Thompson’s buys Cox Lumber

by Renae Stampp
September 15, 2023
0

(CMR) Effective today, 15 September, Cox Lumber Ltd. has been purchased by A. L. Thompson’s and will join the A....

Premier calls for diversity and inclusion on Government-appointed bodies

Premier: Cayman is not broke

by Renae Stampp
September 12, 2023
0

(CMR) Premier of the Cayman Islands and Minister of Finance Wayne Panton said there is no plan to cut the...

CUC seeks qualified natural gas supplier

CUC seeks qualified natural gas supplier

by Renae Stampp
September 7, 2023
0

(CMR)  In an effort to reduce the cost of energy production and reduce carbon emissions, the Caribbean  Utilities Company, Ltd...

Deputy chair breaches permit law

Deputy chair breaches permit law

by CMR
August 31, 2023
0

(CMR) The Deputy Chair of the Business Staffing Plan Board has been called into disrepute after at least one of her...

Interest in Cayman Insurance Industry remains strong

Interest in Cayman Insurance Industry remains strong

by Renae Stampp
August 30, 2023
0

(CMR) The Cayman Islands Monetary Authority (CIMA) recently released licensing statistics for the second quarter of 2023, which demonstrate the...

CAL approved for TSA PreCheck

CAL approved for TSA PreCheck

by CMR
August 29, 2023
0

(CMR) Some passengers traveling on Cayman Airways Limited (CAL) will now be eligible to apply for expedited security screening at...

Next Post
CCMI marks World Ocean Day with annual Reefs Go Live at Camana Bay

CCMI marks World Ocean Day with annual Reefs Go Live at Camana Bay

Recent News

Cupid claims extramarital affair in Tortuga robbery case

Concession increased for first-time Caymanian homebuyers

September 23, 2023
Man arrested for threats to kill at public beach

Man arrested for threats to kill at public beach

September 22, 2023
TCHT: Consumer Fridays

TCHT: Consumer Fridays

September 22, 2023
Storm surge sensors installed in Grand Cayman

Storm surge sensors installed in Grand Cayman

September 22, 2023
Pensions Bill opens for consultation

Seymour resigns from PACT Government

September 22, 2023
Family alleges police misconduct over arrest involving Down Syndrome minor

Arson suspected in Detention Centre fire

September 22, 2023
  • About Us
  • Contact
  • Advertise
  • Privacy Policy
  • Terms and Conditions

Copyright © 2023 CMR Cayman's Premier News Source - All Rights Reserved

No Result
View All Result
  • Home
  • Ask The Marl Road
    • Consumer Protection
      • Scammers
  • Breaking News
  • Business
    • Finance
  • Cayman Crime Watch
  • Cayman Small Business
  • Cayman Wellness
  • Cayman’s Youth
  • Celebration of Life
  • Community Notices/Events
    • Accidents
    • Police
    • Weather
  • Consumer Protection
    • Scammers
    • COVID-19
    • What would you do?
  • CMR Videos
    • The Cold Hard Truth
    • Cayman Voices
  • Court Cases
    • Civil
    • Criminal
  • Election 2021
  • Entertainment
    • Events
    • Music
  • Events
  • Family
    • Education
    • Fury Friends
  • Government
    • Road Closures
  • Investigative Reports
  • Legal Notices
  • Lifestyle
    • Food
    • Health
    • Medical Experts
  • Live Show
  • News Roundup
  • Opinions
    • Polls
    • Cartoons
  • Politics
    • Parliament
  • Regional News
  • Rumor Has It
  • Science
  • Social Media Happenings
    • Jackass of the Day!
    • Lost & Found
  • Sports
  • Tech News
  • Weird & Unusual News
  • World News
  • Sponsored Content

Copyright © 2023 CMR Cayman's Premier News Source - All Rights Reserved