The European Commission has launched a public consultation on UCITS depositaries. This public consultation is part of a comprehensive review of the existing European regulatory principles which are applicable to depositary functions. The objective is to clarify and strengthen the regulation and supervision of UCITS depositaries, with a view to increasing the level of the protection of UCITS investors. Contributions are particularly sought from investors, the depositary industry, assets managers, other financial institutions and public authorities. The areas of particular interest relate to safe-keeping and supervisory duties and the responsibility regime. This consultation is open until 15 September 2009.