Investment advisers and managers of private investment funds organized in the Cayman Islands should take note that on September 30, 2019, the Data Protection Law, 2017, is set to come into effect.
In general terms, this will bring the Cayman Islands into line with many other countries who have recently enacted enhanced data privacy laws, including the European Union’s GDPR. The DPL is designed to protect individuals’ data and give them greater control over its use. It is further designed to lower the administrative burden on organizations operating internationally and “to cement the Cayman Islands as an attractive jurisdiction in line with international developments.”