The General Data Protection Regulation1 ("GDPR") will become law across the EU on 25 May 2018 and substantially updates the current data protection regime.

In this edition of the Maples and Calder Tax Update, we focus on both Irish and international tax developments.

Grant Dixon and Andrew Keast recently participated in a Q&A focused on practical cross-border insight into alternative investment funds work.

The European Union (Alternative Investment Fund Managers) Regulations 2013 gave effect to the Alternative Investment Fund Managers Directive in Ireland.

The Cayman Islands Grand Court has delivered its ruling in Re Shanda Games Limited (FSD 14 of 2016, 25 April 2017, Segal J).

Welcome to Maples and Calder's quarterly newsletter on financial services regulatory enforcement.

The Central Bank of Ireland ("CBI") has issued a consultation paper (the "Consultation Paper") detailing major changes to the regulatory regime for Irish non-UCITS funds in advance of the implementation of the Alternative Investment Fund Managers Directive ("AIFMD").

The Miami-based Offshore Alert Conference has become a regular draw for representatives of Cayman’s financial services industry in recent years, and this year’s event is no exception with the Cayman Islands lending strong support through the provision of speakers from both the financial services industry and Government’s Ministry for Financial Services.

To maintain the BVI as a leading offshore financial centre, the jurisdiction has introduced several new pieces of legislation over recent years.

On 16 July 2013, the European Union (Alternative Investment Fund Managers) Regulations 2013 (No. 257 of 2013) gave effect to Alternative Investment Fund Managers Directive (2011/61/EU) ("AIFMD") in Ireland.

On 26 November 2014 the Judicial Committee of the Privy Council (the "Privy Council") handed down its judgment in the appeal brought by Stichting Shell Pensioenfonds ("Shell") against the joint liquidators of Fairfield Sentry Ltd ("Fairfield Sentry") (the "Liquidators"), the largest feeder fund to Bernard L. Madoff Investment Securities LLC ("BLMIS").

"Our thoughts remain with all those who have been affected by Hurricane Irma across the region.

This question has been given due consideration by a significant number of persons holding management responsibility for, or acting in an advisory capacity to, Cayman Islands registered or incorporated entities.

On 30 July 2015 the European Securities and Markets Authority ("ESMA") recommended the deferral of the extension of the AIFMD passport to non-EEA alternative investment fund managers ("AIFMs") and alternative investment funds ("AIFs").

The principles under the BVI CRS Legislation are very similar to FATCA and the BVI US and UK FATCA legislation (collectively "FATCA"), although there are some important distinctions.

Any EU financial or non-financial institution including both authorised UCITS and authorised AIFs.

This update is a follow-up to our update entitled FATCA and Trustees: Part I ("Part I"), published in December 2014.