This training aims at explaining to participants the duties and liabilities, both from a legal and regulatory perspective, of a Luxembourg depositary of investment funds in different contexts - AIFMD and UCITS V – and taking into consideration the specificities of different Luxembourg fund vehicles (SIF, Sicar, Part II, etc.).
Participants will be provided with a detailed overview of the applicable rules. Whenever possible, practical and operating aspects will be discussed with a view to raising the awareness of participants from different backgrounds with respect to best market practices.
Depositary legal framework
- Legal duties/obligations deriving from AIFMD and CSSF Circular 18/697, including changes introduced by Commission Delegated Regulations 2018/1618
- Legal duties/obligations deriving from UCITS V and CSSF Circular 16/644, including changes introduced by Commission Delegated Regulations 2018/1619
- Latest legal and regulatory updates
Governance and duties of a depositary
- Appointment and role of the depositary
- Organisation of a depositary, including information flow and escalation
- Liability regimes
- Duties of the depositary:
- Safekeeping of assets (i.e. assets held in custody vs. other assets such as financial derivative instruments, PE and target funds)
- Delegation of depositary duties and look-through aspects
- Cash monitoring and controls
- Oversight duties and controls
Nicola Losito (Director, Arendt Regulatory & Consulting)
Pascal Sonnen (Associate, Investment Management, Arendt & Medernach)
Professionals in charge of business, legal and operational matters inherent to depositary activities or professionals in charge of investment support, investment structuring or legal matters within UCITS and AIF and / or their management companies.
6 hours (including a lunch break)
For more information please contact us by e-mail at email@example.com