21(14) - AIFMD Provision: Difference between revisions

21(14) - AIFMD Provision (view source)

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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]].
+{{aifmdanat|21(14)}}
+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)}}
+Of interest are the criteria set out in Article {{aifmdprov|21(11)(d)(ii)}}, right? If met, the strictures of this paragraph do not apply.  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 a bit of a value judgment  — to have ''some'' minimum {{tag|capital}} requirements (without saying how much...), and to be ''audited''.
-{{comm}}
+Which is just as well, because the provisions of {{aifmdprov|21(14)}} are otherwise onerous.
-Of interest are the criteria set out in Article {{aifmdprov|21(11)(d)(ii)}}, right? Well, these are they:
-{{aifmdsnap|21(11)(d)(ii)}}
-These are, even in weird and wonderful jurisdictions, fairly bar to cross - that it be subject to "effective prudential regulation - seems somewhat subjective to me - to have some minimum capital requirements (without saying how much...), and to be audited.
-{{anat|aifmd}}