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Template:Delegation vs subcontract: Difference between revisions
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Template:Delegation vs subcontract (view source)
Revision as of 18:49, 4 December 2018
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Amwelladmin (talk | contribs) (Created page with "===“Delegation” versus “sub-contracting”=== Delegation, according to a natural definition, means “''to entrust (a task or responsibility) to another person,...") |
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Delegation, according to a natural definition, means “''to entrust (a task or responsibility) to another person, typically one who is less senior than oneself.''”<ref>{{google2|Define|Delegation}}</ref>. | Delegation, according to a natural definition, means “''to entrust (a task or responsibility) to another person, typically one who is less senior than oneself.''”<ref>{{google2|Define|Delegation}}</ref>. | ||
For example a [[ | For example a [[depositary]] ''delegating'' its safekeeping responsibility to a [[prime broker]] means (to the [[Jolly Contrarian]], at any rate) that it will not be the [[depositary]] who holds your assets, kind sir, but the [[prime broker]]. Your custody arrangement, and your claim, will be against the [[PB]] directly (though, if the delegation happened under the auspices of [[21(11) - AIFMD Provision|AIFMD]] or [[UCITS]], you may still have a pop at the Depositary if the [[PB]] proves to be a dolt. | ||
Why does this happen? Because a [[prime broker]] needs the assets. To use them. | Why does this happen? Because a [[prime broker]] needs the assets. To use them. | ||