Retained EU Law SI 2016/438 United Kingdom

Commission Delegated Regulation (EU) 2016/438 of 17 December 2015 supplementing Directive 2009/65/EC of the European Parliament and of the Council with regard to obligations of depositaries (Text with EEA relevance)

Read it on legislation.gov.uk (opens in a new tab)
Status
In Force
Penalty ceiling
Regulated

Does it bind you?

Business-side roles with duties under this instrument.

Trader6 Contractor1

Other Acts binding the same actors

If a role above is yours, these are the other instruments that most often bind it.

Trader — also bound by 825 other Acts
Companies Act 2006 243 duties
Companies Act 1985 85 duties
Contractor — also bound by 173 other Acts

What it requires

Regulations creating concrete business duties or carrying penalties, grouped as the instrument is structured. Titles link to the source text — blue means you’re leaving for legislation.gov.uk.

s.art008 Duties related to the UK UCITS' income calculation and distribution Regulated
  • Depositary must ensure UCITS income calculations and dividends are correctContractor
s.art009 Cash monitoring — general requirements Regulated
  • Provide depositary with full cash account information for UCITSTrader
s.art011 Duties regarding payments upon the subscriptions Regulated
  • Provide depositary with subscription payment information dailyTrader
s.art021 Common management Regulated
  • Keep management independent between you and your fund depositaryTrader
s.art022 Appointment of depositary and delegation of safekeeping Regulated
  • Appoint a depositary using a proper decision-making processTrader
s.art023 Conflicts of interest Regulated
  • Put in place policies to identify and manage conflicts of interest with your depositaryTrader
s.art024 Independence of management boards and supervisory functions Regulated
  • Ensure independent board/supervisory members when group link existsTrader
18 other provisions — procedural and definitional
s.art001 Definitions
s.art002 Contract for the appointment of a depositary
s.art003 Oversight duties — general requirements
s.art004 Duties regarding subscription and redemptions
s.art005 Duties regarding the valuation of units
s.art006 Duties regarding the carrying out of the UK UCITS' instructions
s.art007 Duties regarding the timely settlement of transactions
s.art010 Monitoring of the UK UCITS' cash flows
s.art012 Financial instruments to be held in custody
s.art013 Safekeeping duties with regard to assets held in custody
s.art014 Safekeeping duties regarding ownership verification and record keeping
s.art015 Due diligence
s.art016 Segregation obligation
s.art017 Insolvency protection of UK UCITS assets when delegating custody functions
s.art018 Loss of a financial instrument held in custody
s.art019 Liability discharge
s.art020 Management body
s.art025 Entry into force and application

Duty extraction and severity labels are Guvnor’s analysis of the instrument, not the instrument itself. Always verify against the linked source text.