Augentius has, for the last two years, been instrumental in the development and implementation of the AIFMD Depositary concept as it has progressed through the European legislative process. As the leading fund administrator in the sector, Augentius has been perfectly placed to share its knowledge and expertise in the development of the Depositary product.
Our Specific Involvement:
- Contributed to ESMA consultation process and provided evidence to ESMA working group
- Contributed to FCA consultations and regular face to face meetings with FCA to assist in developing understanding of the new Depositary concept
- Face to face meetings with UK Treasury and contributed to consultation processes
As and when the legislation was nearing completion, in Autumn 2012, Augentius commenced the development of pragmatic operational processes around the implementation of AIFMD Depositary in conjunction with investment managers:
- Formed a working party of two Depositary-only clients plus one existing client
- Shared proposed operating procedures and practices with managers – making sure they were sensible and pragmatic – adapting procedures as appropriate
- Worked together with the FCA, sharing proposed operating procedures and assisting operational understanding with the regulator
- Ongoing technical publications, webinars and advice produced to the industry throughout the process
Our involvement in every stage of the European legislative process has seen Augentius lead the market in the development of the Depositary product.
For more information about the implementation of AIFMD contact our team or follow the links below: