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Template:Nutshell AIFMD 21(11)(d): Difference between revisions
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Template:Nutshell AIFMD 21(11)(d) (view source)
Revision as of 17:28, 3 December 2018
, 3 December 2018no edit summary
Amwelladmin (talk | contribs) (Created page with "{{aifmdprov|21(d)}} the {{aifmdprov|depositary}} ensures that the {{aifmdprov|third party}} complies with the following when performing its delegated tasks: ::(i) it has adequ...") |
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{{aifmdprov|21(d)}} the {{aifmdprov|depositary}} ensures that the {{aifmdprov|third party}} complies with the following when performing its delegated tasks: | {{aifmdprov|21(d)}} the {{aifmdprov|depositary}} ensures that the {{aifmdprov|third party}} complies with the following when performing its delegated tasks: | ||
:(i) it has adequate structures and expertise proportionate to the nature and complexity of the assets of the {{aifmdprov|AIF}} entrusted to it; | |||
{{ | :(ii) for custody tasks set out in paragraph {{aifmdprov|21(8)}}(a), it is subject to | ||
::(iii) it segregates the {{aifmdprov|depositary}}’s clients’ assets from its own and the {{aifmdprov|depositary}}’s own assets so that they can be clearly identified as belonging to clients of a particular {{aifmdprov|depositary}}; | ::effective prudential regulation, including minimum capital requirements, and supervision in its jurisdiction and | ||
::an external periodic audit to ensure that the financial instruments are in its possession; | |||
:(iii) it segregates the {{aifmdprov|depositary}}’s clients’ assets from its own and the {{aifmdprov|depositary}}’s own assets so that they can be clearly identified as belonging to clients of a particular {{aifmdprov|depositary}}; | |||
:(iv) it does not use the {{aifmdprov|AIF}}’s assets without first getting the {{aifmdprov|AIF}}’s consent and telling the {{aifmdprov|depositary}}; and | |||
:(v) it generally complies with paragraphs {{aifmdprov|21(8)}} and {{aifmdprov|21(10)}} when carrying out its obligations. <br> | |||