As you may have been aware, the Central Bank recently proposed to apply the "full UCITS IV regime" to UCITS organised as self-managed investment companies ("SMICs") by 1 July 2013.

The CLOser is Maples and Calder's industry newsletter focused primarily on current Cayman Islands and Irish legal issues relevant to the CLO market.

Asset management vehicles established in the Cayman Islands can generally be divided into two distinct groups:

The COVID-19 pandemic has resulted in some challenges to the legal regime in the aviation sector, according to Donna Ager, Head of Maples and Calder's European Aviation team at the Maples Group.

In a ground-breaking decision for the Cayman Islands as a restructuring centre, the Cayman Islands court has handed down judgment sanctioning four highly complex inter-linked schemes of arrangement.

The Cayman Islands Court of Appeal ("CICA") in Traded Life Policies Fund (In Official Liquidation) ("TLPF") & Anor v Jeremy Leach et al confirmed that where the plaintiff's want of means (impecuniosity)...

The Cayman Islands Tax Information Authority has issued an advisory to confirm that the limited life debt investment entity exemption established under FATCA has been extended in the Cayman Islands to the OECD Common Reporting Standard.

The enactment of EU Directive 2011/61/EU on Alternative Investment Fund Managers (the "AIFMD") gave rise to considerable uncertainty as to whether structured finance vehicles would be considered alternative investment funds ("AIFs") under the AIFMD and therefore would be required by the AIFMD to appoint an authorised alternative investment fund manager ("AIFM") or be authorised themselves as AIFMs.

Maples and Calder, the Maples Group's law firm, welcomes a recent judgment from the BVI Commercial Court in Durant International Corp (in Liquidation) v Flavio Maluf, which brings clarification to important issues ...

On 21 December 2016, the People's Bank of China ("PBoC") announced that Ireland had been granted a RMB 50 billion Renminbi Qualified Foreign Institutional Investor ("RQFII") quota. Ireland is only the sixth European country to be granted an RQFII quota after the United Kingdom, France, Germany, Switzerland and most recently, Luxembourg.

The Corporate Governance Code for Collective Investment Schemes and Management Companies (the "Code") issued by the Irish Funds Industry Association (the "IFIA") in consultation with the Central Bank of Ireland (the "Central Bank") became effective on 1 January 2012.

The influence of the EU in Ireland's tax affairs is growing, with more measures and complexities coming down the tracks...

Irish funds are required to obtain a tax declaration, in a prescribed form, from each non-Irish resident investor, certifying that they are not an Irish resident (the "Non-Resident Declaration")...

Since 2014 the Central Bank of Ireland (the "Central Bank") has permitted regulated direct lending funds to be established as a special category of qualifying investor alternative investment funds.

The Irish Government enacted the Irish Bank Resolution Corporation Act 2013 (the "IBRC Act") in the early hours of 7 February 2013.

Further to our prior client updates on the US Foreign Account Tax Compliance Act and the signing by the Cayman Islands government of a Model 1(b) (non-reciprocal) intergovernmental agreement with the US on 29 November 2013, this update provides a concise summary of the current position for SPVs, specifically, CLO issuers incorporated in the Cayman Islands.

Harjit Kaur of Maples and Calder offers her perspective on the firm's European growth and their response during the current pandemic.

The changes that were announced in the UK Budget 2014 do not affect the above benefits.

On 29 March 2018 the Central Bank of Ireland published a Consultation Paper proposing to consolidate and amend the Central Bank UCITS Regulations, which form the basis for the Irish regulatory framework for UCITS.

The Central Bank of Ireland (the "CBI") has announced that as result of a recent investigation it has identified "significant failures" on the part of two Irish mortgage lenders (permanent tsb ("PTSB") and Springboard Mortgages Limited ("Springboard")) in dealing with clients in connection with tracker mortgage products and the setting of interest rates.