UCITS and AIFs new Segregation and Safekeeping Duties for Depositaries

In order to create a harmonised and robust EU level framework on the safekeeping of financial instruments of AIFs and UCITS and to achieve a healthy balance between market efficiency and investor protection, the following delegated regulations were published in the EU’s Official Journal on 30 October 2018. The following delegated regulations will apply from 1 April 2020:

Commission Delegated Regulation (EU) 2018/1618 amending Delegated Regulation (EU) 231/2013 as regards the safe-keeping duties of depositaries; and Commission Delegated Regulation (EU) 2018/1619 amending Delegated Regulation (EU) 2016/438 as regards the safe-keeping duties of depositaries.