ESMA has updated its Q&A document for the Alternative Investment Funds Management Directive (AIFMD). This update clarifies that when the depositary of an AIF sub-delegates custody of the AIF assets to a central securities depository (CSD), the CSD must comply with the AIFMD provisions on delegation. (Source: ESMA Updates AIFMD Q&A)
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ESMA updates AIFMD Q&A
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