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Commission Delegated Regulation 2016/438/EU supplementing Directive 2009/65/EC with regard to obligations of depositaries (UCITS V Level 2)RecitalsChapter 1 Definitions and details of the written contract (arts. 1-2)Article 1 DefinitionsArticle 2 Contract for the appointment of a depositaryChapter 2 Depositary functions, due diligence duties, segregation obligation and insolvency protection (arts. 3-17)Article 3 Oversight duties - general requirementsArticle 4 Duties regarding subscription and redemptionsArticle 5 Duties regarding the valuation of unitsArticle 6 Duties regarding the carrying out of the UCITS' instructionsArticle 7 Duties regarding the timely settlement of transactionsArticle 8 Duties related to the UCITS' income calculation and distributionArticle 9 Cash monitoring - general requirementsArticle 10 Monitoring of the UCITS' cash flowsArticle 11 Duties regarding payments upon the subscriptionsArticle 12 Financial instruments to be held in custodyArticle 13 Safekeeping duties with regard to assets held in custodyArticle 14 Safekeeping duties regarding ownership verification and record keepingArticle 15 Due diligenceArticle 16 Segregation obligationArticle 17 Insolvency protection of UCITS assets when delegating custody functionsChapter 3 Loss of financial instruments and liability discharge (arts. 18-19)Article 18 Loss of a financial instrument held in custodyArticle 19 Liability dischargeChapter 4 Independence requirements and final provisions (arts. 20-25)Article 20 Management bodyArticle 21 Common managementArticle 22 Appointment of depositary and delegation of safekeepingArticle 23 Conflicts of interestArticle 24 Independence of management boards and supervisory functionsArticle 25 Entry into force and applicationDone at
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Version status: | Document consolidation status: Updated to reflect all known changes
Version date: 24 March 2016 - onwards

Done at

This Regulation shall be binding in its entirety and directly applicable in all Member States.

Done at Brussels, 17 December 2015.

For the Commission

The President

Jean-Claude JUNCKER

 

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