ESMA updates funds FAQs

ESMA has updated its FAQs on AIFMD and UCITS.  The additions focus on depositaries, looking at:

  • the distinction between depositary functions and supporting tasks that are not subject to the delegation rules in the respective Directives;
  • delegation of safekeeping functions;
  • performance and supervision of depositary functions where there are branches in other Member States; and
  • delegation of depositary functions to other group entities.
Barry Stimpson

Barry Stimpson