Supervised by:
David Majzoub
Senior Associate
Nicola Losito
Director
About the training session
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 taking into consideration the specificities of the various Luxembourg fund vehicles (including AIFs and UCITS).
Participants will be provided with a detailed overview of the applicable rules. Practical and operational aspects will be addressed and participants will have the opportunity to interact throughout the training by asking questions and taking an active part in the discussions.
Content
Depositary legal framework
- Legal obligations deriving from AIFMD framework (Level 1 and 2, incl. CDRs) and CSSF Circular 18/697
- Legal obligations deriving from UCITS framework (Level 1 and 2, incl. CDRs) and CSSF Circular 16/644
- Latest legal and regulatory updates (such as the CSSF expectations re. ex-ante controls for AIFs investing in illiquid assets, depositary monitoring of ESG investment restrictions…)
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 PE/RE and target funds) incl. delegation aspects
- Delegation of depositary duties and look-through aspects
- Cash monitoring and controls
- Oversight duties and controls
- Intragroup assistance and outsourcing
- Look-through and control aspects
Speakers
Our speakers belong to both our specialised and complementary teams and as such, cover all legal, regulatory, taxation and advisory aspects of doing business in Luxembourg. We invite you to check our training agenda where the speakers are listed on each training session.
Target audience
Professionals in charge of business, legal and operational matters inherent to depositary activities or interacting with depositaries as professionals in charge of investment support, investment structuring or legal matters within UCITS and AIF and / or their management.
Duration
5.5 hours
Language
English
For more information please contact us by e-mail institute@arendt.com