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AIFMD Review – the key areas of focus for depositaries

The European Commission has launched its public consultation on the review of the AIFMD. 

In relation to depositaries, whilst noting that the provisions governing the functions and liability of depositaries have been effective elements of the regime, the Commission suggests that there are areas that could benefit from targeted clarifications. In this bulletin, we consider the areas that could be subject to change and discuss how any subsequent proposals for revising the regime could impact depositaries.