Training Session

Nov 18, 2020
10:00 AM


Nov 18, 2020
3:30 PM
Where ?
Arendt House
41 Avenue John F. Kennedy
L-2082 Luxembourg


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.


The training covers the following topics:

  • Depositary
    - 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 and 2018/1619

Duties of a depositary

  • Safekeeping
    - 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).

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.


5h30 (including a 1-hour lunch break)






For any information, please contact us by e-mail

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Dr. Frank Brülin

Investment Management

Nicola Losito
Senior Manager

Regulatory Consulting

Arendt & Medernach SA

41A, Avenue JF Kennedy L-2082 Luxembourg

T (352) 40 78 78 1
F (352) 40 78 04