Cathay Asia Limited

A notice of revocation of licence was issued to Cathay Asia Limited for its contraventions of: a) section 34(3) of the Financial Services Commission Act, 2001 by failing to appoint a Compliance Officer or seeking an exemption from the requirement; b) section 4 of the Financial Services (Prudential and Statistical Returns) Order, 2009 by failing to file prudential and statistical returns; and c) sections 2 and 2A of the Financial Services Commission (Fees) (Amendment) Regulations, 2010 by failing to pay to the Commission the required annual licence fees since 2011.