AIFMD: Difference between revisions

AIFMD (view source)

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 ===={{aifmdprov|Depositary lite}} Regime====
-Non-EU [[AIF]]s marketed by an EU [[AIFM]] to EU investors through [[private placement]] are subject to certain depositary requirements (Article {{aifmdprov|36}} [[AIFMD]])
-* An AIFM must ensure one or more entities are appointed to carry out the following duties of:
-**Cash flow monitoring (Article {{aifmdprov|21(7)}});
-**Safe keeping of assets, both financial instruments and OTC (Articles {{aifmdprov|21(8)(a)}} and {{aifmdprov|21(8)(b)}}; and
-**Oversight (Article {{aifmdprov|21(9)}})
-*Unlike Article {{aifmdprov|21}} (which covers the full depositary obligations of an EU AIFM / EU AIF) there is no strict liability for loss of assets for a non-EU AIF, and no requirement to appoint a single depositary - therefore this regime is referred to as "Depositary-Lite" or "Depo-Lite".
 {{aifmdanatomy}}