Objectives

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.

Content

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

Speakers

Nicola Losito (Director, Arendt Regulatory & Consulting)

Pascal Sonnen (Associate, Investment Management, Arendt & Medernach) 

Target Group

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.

Duration

6 hours (including a lunch break)

Language

English

Price

900€

For more information please contact us by e-mail at institute@arendt.com