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Intertrust Cayman receives administrative penalty

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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 Intertrust
Intertrust 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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