What Funds Should Know About The New Cayman Islands Data Protection Law

The Cayman Islands recently implemented data protection legislation similar to that adopted elsewhere in the world, including the EU’s General Data Protection Regulation (GDPR). The GDPR forced many businesses outside its immediate jurisdiction to adopt new privacy practices, and the Cayman legislation, titled (DPL), has international implications much like those of its European counterpart.

Much like the GDPR, the DPL aims to provide individuals with more control over the use of their personal data, and to better protect this data. While there are more similarities than differences between the two, the Ombudsman of the Cayman Islands cautioned in its guidance that there are “differences between the EU legislation and the DPL which must be taken into account when interpreting the legislation.”