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Delegation of depositary functions - UCITS V Provision: Difference between revisions
Delegation of depositary functions - UCITS V Provision (view source)
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According to recital 15 of the level 2 delegated regulations under {{tag|UCITS V}} (makes you weep, doesn't it) “''when delegating safekeeping functions to a third party in accordance with Article {{ucitsprov|22a}} of {{eudir|2009|65|EC}}, the {ucitsprov|depositary}} is required to implement and apply an appropriate and documented procedure to ensure that the delegate complies with the requirements of Article {{ucitsprov|22a(3)}} of that Directive at all times. In order to ensure a sufficient level of protection of assets, it is necessary to set out certain principles that should be applied in relation to the delegation of safekeeping functions.''” | |||
{{UCITS Article 22a TOC}} | {{UCITS Article 22a TOC}} | ||