21(14) - AIFMD Provision: Difference between revisions
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A provision which seems to require an {{aifmdprov|AIF}} being able to directly sue a sub-custodian located in a [[third country]]. | A provision which seems to require an {{aifmdprov|AIF}} being able to directly sue a sub-custodian located in a [[third country]]. Eek! (But fear not: there's a twist...) | ||
{{aifmdsnap|21(14)}} | {{aifmdsnap|21(14)}} | ||
{{comm}} | {{comm}} | ||
Of interest are the criteria set out in Article {{aifmdprov|21(11)(d)(ii)}}, right? Well, these are they: | Of interest are the criteria set out in Article {{aifmdprov|21(11)(d)(ii)}}, right? Well, these are they: | ||
{{aifmdsnap|21(11)(d)(ii)}} | {{aifmdsnap|21(11)(d)(ii)}} | ||
These are, even in weird and wonderful jurisdictions, a fairly low bar over which to execute a Fosbury flop: That it be subject to "effective prudential regulation - seems somewhat subjective to me - to have {{ | These are, even in weird and wonderful jurisdictions, a fairly low bar over which to execute a Fosbury flop: That it be subject to "effective prudential regulation - seems somewhat subjective to me - to have ''some'' minimum {{tag|capital}} requirements (without saying how much...), and to be audited. Which is just as well, because the provisions of {{aifmdprov|21(14)}} are otherwise outrageously onerous. | ||
{{anat|aifmd}} | {{anat|aifmd}} |