UCITS V brings convergence of the depositary role with AIFMD

jibfljan2015The change to the role of depositary for UCITS is not quite the “big bang” that it was for AIFMD. Many of the depositary provisions of UCITS V are taken directly from AIFMD, albeit with some modifications that reflect the difference in the level of risk that investors in UCITS and AIFs can both understand and sustain. In many instances, UCITS V requirements correspond to existing practice for Irish custodians, who already had robust processes in place to deal with Irish regulatory requirements that would have been reviewed to deal with the operational impacts of AIFMD.

Trevor Dolan, a  partner at LK Shields explores this in further detail.

JIBFL will be sharing two articles per month on-line only. They will be available on the Loan Ranger blog one month after publication in LexisLibrary.

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