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https://www.um.edu.mt/library/oar/handle/123456789/115911| Title: | The rationale for a depositary passport |
| Other Titles: | The alternative investment fund managers directive |
| Authors: | Buttigieg, Christopher P. |
| Keywords: | Investment funds -- European Union countries Investments -- Law and legislation -- European Union countries Securities -- European Union countries Financial services industry -- Law and legislation -- European Union countries Private equity funds -- Law and legislation -- European Union countries European Parliament. Alternative investment fund managers directive |
| Issue Date: | 2020 |
| Publisher: | Wolters Kluwer |
| Citation: | Buttigieg, C. P. (2020). The Rationale for a Depositary Passport. In D. Zetzsche (Ed.), The Alternative Investment Fund Managers Directive (pp. 581-594). Netherlands: Wolters Kluwer. |
| Abstract: | Depositaries are the most important service providers of an AIF from an investor protection perspective as they inter alia safekeep the assets of the said fund. They are critical in ensuring investor protection since, in addition to their safekeeping role, they also have a number of other roles including the overseeing and monitoring of other services providers of investment funds. Pursuant to Article 21(5) AIFMD, the depositary has to be registered or established in the same Member State as the AIF, which restricts the choice of depositaries available to these funds. This chapter examines the rationale for an internal market passport for AIF depositaries, and investment funds in general, in order to widen the choice of depositaries available to investment funds and strengthen competition in the market for AIF. This is particularly relevant in the context of AIF registered in Member States with an under-developed depositary sector. A depositary passport would therefore strengthen competition, which in turn would reduce the cost of depositary services in the EU. |
| URI: | https://www.um.edu.mt/library/oar/handle/123456789/115911 |
| ISBN: | 9789403509105 |
| Appears in Collections: | Scholarly Works - FacEMABF |
Files in This Item:
| File | Description | Size | Format | |
|---|---|---|---|---|
| The_rationale_for_a_depositary_passport(2020).pdf Restricted Access | 109.81 kB | Adobe PDF | View/Open Request a copy |
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