Section 2: FIA

I. – In accordance with the conditions laid down in the General Regulations of the Autorité des marchés financiers, the custodian shall ensure that : 1° That all payments made by or on behalf of unitholders or shareholders when subscribing to AIF units or shares have been received and that all cash has been accounted for ; 2° And generally that the AIF’s cash flows are properly monitored. II. –…

The custodian may not delegate to third parties the functions conferred upon it by I and III of article L. 214-24-8. The custodian may delegate asset safekeeping functions to third parties under the conditions laid down in the General Regulations of the Autorité des marchés financiers.

I. – The AIF’s custodian is liable to the AIF or to the unitholders or shareholders for the loss by the custodian, or by a third party to whom custody has been delegated, of financial instruments held in custody in accordance with II of article L. 214-24-8. In the event of the loss of financial instruments held in safekeeping, the custodian shall return to the AIF financial instruments, including money…

The depositary may be held liable to the unit-holders or shareholders of the AIF either directly or indirectly through the management company, depending on the legal nature of the relationship between the depositary, the management company and the unit-holders or shareholders.

The Autorité des marchés financiers may obtain from the depositary, on simple request, all information obtained in the performance of its duties and necessary for the performance of its tasks. If the AIF is authorised or registered with another authority or if the management company has its registered office in another Member State or in a third country, the Autorité des marchés financiers shall immediately communicate the information received to…