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UCITS and AIF depositaries: the AMF gives details about the identity of the head of the depositary function in its instruction DOC-2016-01
10 May 2021

UCITS and AIF depositaries: the AMF gives details about the identity of the head of the depositary function in its instruction DOC-2016-01

UCITS and AIF depositaries must appoint a head of the depositary function and inform the AMF of his or her identity. The AMF has completed its instruction DOC-2016-01 on the information relating to this appointment.

A new form on the identity of the head of the depositary function

In accordance with Articles 323-8 and 323-28 of the AMF Regulation, UCITS and AIF depositaries must appoint a head of the depositary function and inform the AMF of his or her identity. In this regard, AMF Instruction DOC-2016-01 stipulates that, depending on the case, the programme of operations or the specifications of the depositary must mention the identity of the head of the depositary function. This instruction has been amended to include a form that the depositary must submit to the AMF in order to declare this person in the following cases:

  • an application to the AMF for prior approval of the programme of operations of UCITS depositaries when they are investment firms;
  • prior approval by the AMF of the specifications of UCITS depositaries when they are credit institutions or branches of credit institutions;
  • submission to the AMF of the specifications of AIF depositaries;
  • after the appointment of a new head of the depositary function.

Explanations about the information on existing depositaries to be sent to the AMF

For depositaries whose programme of operations or specifications were approved or submitted before 4 May 2021, this form must be submitted to the AMF within three months, i.e. before 4 August 2021.

Furthermore, if there is a change in the head of the depositary function, the form appended to instruction DOC-2016-01 must be sent to the AMF within 30 days after the appointment of this person, together with their curriculum vitae.