Depositary - UCITS V Provision: Difference between revisions

Depositary - UCITS V Provision (view source)

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 ===Comparison of {{tag|UCITS}} and {{tag|AIFMD}} [[depositary]] regimes===
 The main differences between an [[AIFMD depositary]] and a [[UCITS depositary]] are: <br>
-(i) An [[AIFMD depositary]] can, but a [[UCITS depositary]] cannot, contractually exclude its liability when it delegates the safekeeping function to a third party; and <br>
+*'''Exclusion of liability''': An [[AIFMD depositary]] can, but a [[UCITS depositary]] cannot, contractually exclude its liability when it delegates the safekeeping function to a third party; and <br>
-(ii) {{tag|UCITS V}} prospectuses must contain a description of any safekeeping arrangements delegated, identification of the delegate, and any [[conflict of interest]] that may arise.
+*'''Disclosure''': {{tag|UCITS V}} prospectuses must describe any delegation of safekeeping arrangements, identifying the delegate, and spelling out any [[conflict of interest]] that may arise.
 ===General duties of a [[UCITS depositary]]===