First person: depository liability
Alan Brint, head of corporate and institutional business at RBC Wealth Management, discusses the impact of the impending AIFM directive on depository liability
With less than 18 months to go before the implementation deadline for the alternative investment fund managers (AIFM) directive, there has been much deliberation about the extent to which its requirements will impact the custody industry. The European Securities and Markets Authority (Esma) issued its final advice towards the end of 2011, in which it outlined recommendations relating to the liabilities of depositories as well as third-country requirements, which are of particular interest to
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