Guidelines on sound remuneration policies under the AIFMD
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The current UCITS framework provides little clarity on the institutions that are eligible to act
as a depositary for a UCITS fund. According to Article 23(3) UCITS Member States enjoy
significant discretion as to the institutions they deem eligible to act as UCITS depositaries,
provided that the institutions comply with the requirements of Article 23 (2) (i.e. they are
subject to prudential regulation and on-going supervision).
This has led to divergent approaches across Member States: out of the 17 Member States that
require depositaries to be credit institutions, 12 impose specific capital requirements just for
carrying out custody...
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Guidelines on sound remuneration policies under the AIFMD
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Guidelines on sound remuneration policies under the AIFMD
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