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Clifford Chance

Clifford Chance


Asset segregation and use of CSDs under AIFMD and UCITS V – ESMA's call for evidence

1 September 2016

On 15 July 2016, ESMA published a paper entitled "Call for evidence – Asset segregation and custody services" (comments to be received by 23 September 2016).  The publication of this paper was rather overshadowed by the aftermath of reactions to the UK referendum result on 24 June 2016, but the issues are significant, and this is an important opportunity for AIF and UCITS depositaries (and their delegates) to provide clarity to ESMA regarding issues which have considerable impact on the holding of assets for AIFs and UCITS.

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