Increased custody liability – proposed reforms to EU funds legislation and new rules for crypto-asset markets (April 2022)


Under the European Commission's proposed reforms to AIFMD and UCITS V and the various drafts of the EU Markets in Crypto-assets Regulation ("MiCA"), including the latest European Parliament version, depositaries and custodians of funds and custodians providing services regarding crypto-assets could become subject to increased liability and other obligations.

This blog considers the main due diligence and liability aspects of these proposals. 


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