41A, Avenue John F. Kennedy
This training aims at explaining to participants the duties and liabilities of a Luxembourg depositary of a Luxembourg fund in different contexts - AIFMD (including PE/RE funds), UCITS V and other funds (SIF, Sicar, Part II, etc.) – and taking into consideration the funds’ legal form (SICAV, FCP, etc.).
Following an overview of the applicable rules, a specific focus will be placed on practical and operating aspects with a view to raising the awareness of participants from different backgrounds with respect to best market practices. Certain aspects regarding the content of depositary and sub-custodian agreements will also be discussed.
- Legal duties / obligations deriving from AIFMD and CSSF Circular 18/697
- Legal duties / obligations deriving from UCITS V and CSSF Circular 16/644
- Impact of upcoming changes introduced by Commission Delegated Regulations 2018/1618 2018/1619
Duties of a depositary: discussion of the practical role of a depositary:
- For custodiable assets
- For other assets, including but not limited to financial derivative instruments, PE and target funds
- How to organize the delegation of the depositary duties (due diligence on sub-custodians / TA / specialised intermediaries, country risk assessment)
- Liability issues and protective measures for both custodiable assets and other assets
- Cash monitoring (incl. funds holding accounts with entities other than the depositary)
- Oversight duties
Dr. Frank Brülin (Senior 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 or legal matters within UCITS and AIF and / or their management companies.
For any information, please contact us by e-mail firstname.lastname@example.org