The FSA has published on its website a copy of an e-mail sent to firms that may be considering whether to provide depositary services under the AIFMD. The email provides no guidance on their position in relation to the so-called depo-lite depositary requirements following responses to their first AIFMD consultation paper (CP 12/32) but the text attached to the release of the second AIFMD consultation paper today suggests this may be forthcoming at some point.
Over the past week at least two firms have confirmed they intend to provide depositary services to private equity funds, but the debate between depositaries and prime brokers for hedge funds rumbles on….
Click here to visit the FSA website – go to the section headed AIFMD – Depositaries
