Delegation of depositary functions - UCITS V Provision: Difference between revisions

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According to recital 15 of the level 2 delegated regulations under {{tag|UCITS V}} (makes you weep, doesn't it) “''when delegating safekeeping functions to a third party in accordance with Article {{ucitsprov|22a}} of {{eudir|2009|65|EC}}, the {ucitsprov|depositary}} is required to implement and apply an appropriate and documented procedure to ensure that the delegate complies with the requirements of Article  {{ucitsprov|22a(3)}} of that Directive at all times. In order to ensure a sufficient level of protection of assets, it is necessary to set out certain principles that should be applied in relation to the delegation of safekeeping functions.''”
According to recital 15 of the level 2 delegated regulations under {{tag|UCITS V}} (makes you weep, doesn't it) “''when delegating safekeeping functions to a third party in accordance with Article {{ucitsprov|22a}} of {{eudirective|2009|65|EC}}, the {{ucitsprov|depositary}} is required to implement and apply an appropriate and documented procedure to ensure that the delegate complies with the requirements of Article  {{ucitsprov|22a(3)}} of that Directive at all times. In order to ensure a sufficient level of protection of assets, it is necessary to set out certain principles that should be applied in relation to the delegation of safekeeping functions.''”


{{UCITS Article 22a TOC}}
{{UCITS Article 22a TOC}}

Revision as of 08:59, 15 September 2016

According to recital 15 of the level 2 delegated regulations under UCITS V (makes you weep, doesn't it) “when delegating safekeeping functions to a third party in accordance with Article Template:Ucitsprov of 2009/65/EC (EUR Lex), the Template:Ucitsprov is required to implement and apply an appropriate and documented procedure to ensure that the delegate complies with the requirements of Article Template:Ucitsprov of that Directive at all times. In order to ensure a sufficient level of protection of assets, it is necessary to set out certain principles that should be applied in relation to the delegation of safekeeping functions.”

22a - delegation of depositary functions

22a(1) -
22a(2) -
22a(3) -
22a(4) -

Article

  1. REDIRECT template:ucitsprov, 91|EU (91|EU_22a|view template)

{{2014|91|EU Article 22a}}

UCITS Anatomy

This is an article about undertakings for collective investment in transferable securities directive (UCITS).

Resources: UCITS IV (2009/65/EC (EUR Lex)) | UCITS V (2014/91/EU (EUR Lex)) | ESMA Guidance on UCITS | Depositary comparison under AIFMD and UCITS
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Navigation - UCITS V: 22(2) Written contract with depositary | 22(3) (subscriptions, redemptions, valuation by depositary) | 22(4) (cash monitoring | 22(5) (safekeeping by depositary) | 22(7) (no reuse of assets by depositary) | 22a (delegation of depositary functions)

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