kaal:claim:1806252-019

Because the AIFM Directive exposes depositaries to strict liability in certain circumstances, depositaries must weigh the risks and benefits of serving EU alternative investment funds, and a negative assessment would harm the depository business and, implicitly, hedge funds.

If this risk assessment turns out negative, the business of depositories and, implicitly, hedge funds could be affected.

Kaal, Hedge Fund Regulation Via Basel III (2011), III.1.c Impact Assessment, p. 22
https://ssrn.com/abstract=1806252 · source PDF

Kaal, Hedge Fund Regulation Via Basel III (2011). SSRN: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=1806252

• AIFM Directive retains elements of strict depositary liability
• depositaries reassess whether to serve alternative investment funds in the European Union

mechanismsupport: arguedfailure: depositary-withdrawalfamily: otherlaw-and-legal-systemsprivate-funds

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