Cayman Monetary Regulatory Authority International Issues CI$14,700.00 Fine to Kevin David Poole

The Cayman Monetary Regulatory Authority International ("the Authority") has issued a discretionary administrative fine of CI$14,700.00 to Kevin David Poole ("Mr. Poole") under sections 42A and 42B of the Monetary Authority Act (2020 Revision) and the Monetary Authority (Administrative Fines) Regulations (2022 Revision).

This fine was imposed due to the following conduct:

1. Knowingly or wilfully providing false or misleading information to the Authority regarding an application submitted on behalf of a managed insurance company at the relevant time.

The violations occurred between 2020 and 2021.

The Authority reminds directors and officers of licensed entities of their legal responsibilities under the Insurance Act, 2010, and emphasizes the importance of being transparent and honest in all dealings with the Authority, particularly for individuals in controlled functions.