The Implications Of Brexit On Depositaries

The short term and long term picture post-referendum


A UK withdrawal from the European Union (EU) following the 23 June 2016 ‘Brexit’ Referendum has potential implications on the existing requirement for UK Alternative Investment Fund Managers (AIFMs) to appoint, in certain circumstances, a depositary under the Alternative Investment Fund Managers Directive (AIFMD).

To recap, AIFMD introduced a requirement for certain AIFMs to ensure that a depositary is appointed to perform a fiduciary oversight role over the Alternative...

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