Licence application for depositaries and AIFMs

​This article provides a brief description of the scope and impact of the licence application for depositaries and Alternative Investment Fund Managers (AIFMs).

The provision of depositary services to (Dutch based) Alternative Investment Funds (AIFs) and Undertakings for Collective Investment in Transferable Securities (UCITS) is a licensable activity in the Netherlands. As of 18 March 2018, this licence obligation applies to all depositaries in short not being banks or investment firms applying capital requirements or depositaries of closed-ended funds investing in specific asset classes as defined in the Dutch Financial Supervision Act. The attached article (in the Dutch language only) briefly describes the scope and impact of the licence application for depositaries and AIFMs and has been drafted on the basis of valuable input from Société Générale Securities Services Netherlands (R. van der Wiel).

Read the full article (Dutch only)

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