RegCanary interpretation
This is RegCanary analysis, not source text. Check material statements against the original publication.
The AMF's professional guide on UCITS and AIF depositaries updates regulatory expectations for asset managers and depositaries operating in or distributing into France. For compliance teams, this is a prompt to review existing depositary agreements and operating procedures against the AMF’s clarified standards on safekeeping, cash monitoring, and oversight duties. The guide also addresses crypto-asset custody, signalling growing regulatory attention to digital asset safeguarding. Firms should assess whether their current depositary arrangements meet these expectations, particularly for cross-border funds, and verify that internal escalation routes for depositary breaches are robust. The AMF expects depositaries to demonstrate enhanced due diligence in respect of asset segregation and reconciliation. Action now: map your depositary relationships, identify gaps in contract documentation, and update compliance monitoring intervals. This is a signal that supervisory focus on depositary liability is increasing, and failures could attract regulatory scrutiny.
RegCanary impact assessment
RegCanary impact score: 10/10