Template:Nutshell AIFMD 21(4)

21(4): Conflict management: To avoid conflicts between AIFM, AIF and investors:

(a) AIFM can't be a depositary

(b) a Prime Broker to an AIF can't be a depositary unless appropriate Chinese walls and conflict management processes are in place; however it may delegate of custody tasks as per 21(11) (and 21(8);