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Liability for delegation - UCITS V Provision: Difference between revisions
Liability for delegation - UCITS V Provision (view source)
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{{ucits5anat|24}} | {{ucits5anat|24}}''Comare with Art {{aifmdprov|21(12)}} of [[AIFMD]]''. <br> | ||
Not pretty, if you are a {{ucits5prov|depositary}}, and that means not pretty if you are a delegate either. Since the depostiary can't discharge its responsibility for looking after assets by delegating that to a prime broker or other subcustodian, prome brokers should expect to be asked to provide eye-watering [[indemnities]] to the depositaries by whom they are delegated the custody function. | Not pretty, if you are a {{ucits5prov|depositary}}, and that means not pretty if you are a delegate either. Since the depostiary can't discharge its responsibility for looking after assets by delegating that to a prime broker or other subcustodian, prome brokers should expect to be asked to provide eye-watering [[indemnities]] to the depositaries by whom they are delegated the custody function. | ||
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{{seealso}} | {{seealso}} | ||
*Art {{aifmdprov|21(12)}} of [[AIFMD]] | |||
*[[Delegation]] under {{t|AIFMD}}. | *[[Delegation]] under {{t|AIFMD}}. | ||