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Unterforen: Eligibility Criteria to act as a UCITS Depositary, Approval Procedure to be able to act as UCITS Depositary, Contract for the Appointment of a Depositary

Unterforen: Conflicts of Interest, Internal Procedures and Written Procedures or Contracts with External Persons, Organisational Arrangements to be established with Respect to the Assets of a UCITS, Right of Access to Information, Escalation Procedure between the Depositary and the UCITS and/or its ManCo, Specific Organisational Arrangements Investment Policy of the UCITS or the Techniques used by the UCITS, Organisational Arrangements as regards Reconciliation, Duty to Establish a Contingency Plan

Unterforen: Duties regarding the Day-to-Day Asset Administration, Oversight and Control Functions

The UCITS shall ensure that the depositary has access, at the earliest opportunity, when it is appointed and on an ongoing basis, to all relevant information it needs to fulfil its duties in relation to the depositary activity for a given UCITS.

In order to ensure that any UCITS is informed of any element affecting the assets of a UCITS which are known or come to the knowledge of the depositary in the course of its functions, the depositary must ensure that the UCITS or, where relevant, its management company is informed of any element relating to the assets of the UCITS, at the earliest opportunity, insofar as the depositary has been informed thereof, and in particular as regards any event affecting the assets’ life.

The depositary is required to provide the CSSF, upon request, with all the information the depositary has obtained in the performance of its duties and which might be necessary to allow the CSSF to monitor compliance with the laws and regulations applicable to the depositary as well as the UCITS for which the credit institution acts as depositary.
If the CSSF is not the authority competent for the supervision of the UCITS management company, it provides the information received to the respective competent authorities.

In the case where a contract for the appointment of a depositary is terminated during the existence of a UCITS without a new contract for the appointment of a depositary being put in place and entered into force at the end of the notice period applicable to a termination, it should be ensured that the assets of the UCITS are subject to an adequate safeguarding, depending on the nature of these assets, in the interest of the UCITS and its unit-holders (asset safeguarding measures).

Unterforen: Risk Assessment and Due Diligences on IFMs, Periodical Controls regarding Valuation Methodologies, Duties of IFMs regarding Valuation