Cmrai Rescinds Fines Against Sterling Asset Management International

In a prior notice dated 6 May 2022, the Cayman Monetary Regulatory Authority International ("the Authority") levied discretionary fines amounting to CI$299,050.00 on Sterling Asset Management International Limited ("the Company").

The Company was granted permission to appeal the Fine Notice in legal proceedings under case number FSD 124 of 2022 (IKJ).

As per a Consent Order dated 21 April 2023, the Authority has fully withdrawn the Fine Notice issued on 6 May 2022, meaning no discretionary fines are now imposed on the Company.