New legal framework for closed-ended funds depositaries: role and liabilities

New legal framework for closed-ended funds depositaries: role and liabilities

Abstract:

One of the main novelties introduced by the new legal framework for venture capital that has been established as a consequence of implementation of Directive 2011/61/EU of the
European Parliament and of the Council on Alternative Investment Fund Managers is the new obligation of appointing a depositary in certain cases.
The purpose of this work is to briefly analyse the obligations and liabilities of the depositary under the new legal framework.

Keywords: Depositary, custody, EICC, AIFMD.