Offshore investment entities in the Cayman Islands and many other international financial centers should now start turning their attention to compliance with the Common Reporting Standard promulgated by GATCA – Global FATCA.

"I was in Chicago recently. A German pension fund said they had a USD500m allocation in a Chicago-based fund.

Prior to the much heralded roll out of the AIFMD in 2013, Luxembourg was staunchly entrenched as the leading domicile for regulated mutual funds and private equity funds in Europe.

The Cayman Islands Monetary Authority (the "Authority") outlines below, for your reference, its response to frequently asked questions relating to the AMLRs/GN in relation to funds: