The FCA has started to authorise prime brokers to undertake the AIFMD Article 21(8)(a) safe keeping of financial instruments duties. A number of firms were authorised in recent days and more are expected to follow in the near future. This is important for any managers seeking to implement the AIFMD depositary-lite regime, since the majority will look to their prime brokers to undertake this duty. Further details can be found in this COO connect article.
