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.).
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.
- Legal duties and obligations deriving from AIFMD and CSSF Circular 18/697
- Legal duties and obligations deriving from UCITS V and CSSF Circular 16/644
- Impact of the changes introduced by Commission Delegated Regulations 2018/1618 and 2018/1619
Duties 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)
- Liability issues and protective measures for both custodiable assets and other assets
- Cash monitoring (incl. accounts with entities other than the depositary)
- Oversight duties
Dr. Frank Brülin (Counsel, Investment Management, Arendt & Medernach),
Nicola Losito (Senior Manager, Arendt Regulatory & Consulting).
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.
For any information, please contact us by e-mail firstname.lastname@example.org