AIFMD and the relationship between depositary banks and prime brokers

Webinar date: 
Thursday 17 July at 11:00 GMT

On Thursday 17 July we hosted the third webinar in our series of AIFMD and UCITS V themed webinars.

We are pleased to be able to offer you a re-run of the session below, as well as a video of the presentation given during the webinar. The event was hosted by Thomas Murray Data Services’ editor Miles Reucroft and featured panellists Alex Harborne and Roger Fishwick, also from Thomas Murray, Ian Headon from Northern Trust, Chris J. Caruso from Pangaea Business Solutions, Richard Frase from Dechert, Dominic Hobson from COOConnect, Jane Mason from Citi Bank and Gildas Le Treut from ABN AMRO.

The session explored the complex relationship that has been created between depositary banks and prime brokers as a result of AIFMD. Depositary banks are now liable for any losses of assets in custody at the prime broker, without having effective control over those assets. As a result, there have been extensive discussions over liability between the prime brokers and the depositary banks, and how this is to be framed. There have been disagreements between them over segregation of assets. In addition, more risk-based information has been requested from the prime brokers by the depositary banks. This was, at least initially, met with some resistance.

For a video of the presentation made by Thomas Murray's Alex Harborne, please click below:

For an audio replay of the entire webinar, please click below:

webinar webinar

Alex Harborne

Contact Alex Harborne at aharborne@ds.thomasmurray.com or telephone him on +44 (0) 20 8600 2300.


Roger Fishwick

Contact Roger Fishwick at rfishwick@thomasmurray.com or telephone him on +44 (0) 20 8600 2300.


Dominic Hobson

Contact Dominic Hobson at dominic.hobson@cooconnect.com or telephone him on +44 (0) 20 7228 3013.


Tags: AIFMDUCITS VDepositary BanksPrime Brokers