Template:Ucits delegaton versus aifmd delegation: Difference between revisions

Template:Ucits delegaton versus aifmd delegation (view source)

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-==={{t|UCITS}} Art {{ucits5prov|22a}} looks a lot like {{t|AIFMD}} Art {{aifmdprov|21(11)}} doesn’t it?===
+===Delegation of safekeeping under {{t|UCITS}} and {{t|AIFMD}} look kind of similar don’t they?===
-Yes, it does. the textual differences are largely formal, or [[mutatis mutandis]] style. The main substantive differences are:
+Yes, they do. The textual differences betweixt  {{t|UCITS}} Art {{ucits5prov|22a}} and {{t|AIFMD}} Art {{aifmdprov|21(11)}} are ''largely'' formal, or ''[[mutatis mutandis]]'' style. The main substantive differences are:
 *A {{t|UCITS}} {{ucits5prov|depositary}} is not allowed to reuse the UCITS’ assets at all, rather that only with prior notification and consent as under AIFMD;
 *A {{t|UCITS}} {{ucits5prov|depositary}}must take all necessary steps to ensure UCITS’ assets aren’t caught up in the bankruptcy estate of an insolvent custodian;
 *Where a non-EEA jurisdiction requires use of a local custodian and no local entities satisfy the delegation requirements, {{t|UCITS}} investors must be notified of the risks of such a delegation and not just the fact or, and circumstances justifying, it.