21(13) - AIFMD Provision: Difference between revisions
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{{aifmdanat|21(13)}} | {{aifmdanat|21(13)|}} | ||
The great question of who should be liable for third party {{aifmdprov|sub-custodian}}s. The {{aifmdprov|depositary}} will say, “well, by dint of {{aifmdprov|21(12)}}, I am stuck with more or less absolute liability for loss of the {{aifmdprov|AIF}}’s assets wherever they may be, unless I can get my delegate to accept liability for them.” | The great question of who should be liable for third party {{aifmdprov|sub-custodian}}s. The {{aifmdprov|depositary}} will say, “well, by dint of {{aifmdprov|21(12)}}, I am stuck with more or less absolute liability for loss of the {{aifmdprov|AIF}}’s assets wherever they may be, unless I can get my delegate to accept liability for them.” | ||