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===[[Prime broker]] as depositary lite=== | ===[[Prime broker]] as depositary lite=== | ||
A [[prime broker]] will be keen to act as custodian for a {{aifmd|Non-EU AIF}}, where it can get its grubby hands on all those lovely [[Rehypothecation|rehypothecatable]] [[custody asset|custody assets]], but it will ''not'' want to assume all liability — since it isn’t required to — so will accept this the role of custodian under {{aifmdprov| | A [[prime broker]] will be keen to act as custodian for a {{aifmd|Non-EU AIF}}, where it can get its grubby hands on all those lovely [[Rehypothecation|rehypothecatable]] [[custody asset|custody assets]], but it will ''not'' want to assume all liability — since it isn’t required to — so will accept this the role of custodian under {{aifmdprov|21(8)(a)}} ''as it applies to a person carrying out the safe-keeping function under Art. {{aifmdprov|36(1)(a)}}''. | ||
Tedious, isn’t it. | [[Tedious]], isn’t it. | ||
In any case where the [[PB]] is a depo-lite [[custodian]]: | In any case where the [[PB]] is a depo-lite [[custodian]]: |