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{{ucits5anat|22(3)}} | |||
The depositary appointed by a {{tag|UCITS}} fund is the regulated entity who keeps an eye on things and makes sure the fund is being run properly. Where it has one, a {{tag|prime broker}} will generally not qualify as a depositary though, like under {{tag|AIFMD}}, the appointed depositary may delegate some of its functions (especially as regards {{tag|custody}}) to a {{tag|prime broker}}. | The depositary appointed by a {{tag|UCITS}} fund is the regulated entity who keeps an eye on things and makes sure the fund is being run properly. Where it has one, a {{tag|prime broker}} will generally not qualify as a depositary though, like under {{tag|AIFMD}}, the appointed depositary may delegate some of its functions (especially as regards {{tag|custody}}) to a {{tag|prime broker}}. | ||
See UCITS Article {{ucits5prov|22(3) notes the depositary's general duties | See UCITS Article {{ucits5prov|22(3) notes the depositary's general duties. | ||
Quoth the UCITS Directive {{eudirective|2014|91|EU}}: | Quoth the UCITS Directive {{eudirective|2014|91|EU}}: | ||
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{{depositarycomparison}} | {{depositarycomparison}} | ||