FCA Updates AIFMD Information for Depositories

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Explore:  AIFMD FCA

On September 23, the FCA provided updated information on its dedicated AIFMD webpage for firms applying for authorization (or variation of permission) to act as a depository or trustee of an alternative investment fund.

The guidance highlights rule 3.11.26 in the FCA’s Investment Funds sourcebook (FUND), which states that a depository cannot delegate its functions to a third party (except, in certain conditions, for the safekeeping of assets), which the FCA considers to be any party that is not part of the same legal entity as the applicant. Webpage.

 

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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