Third-party fund management requires FMEs to retain scheme liability, oversight, termination rights, indemnity protection, and responsibility for delegated acts. Fund Management Entities using third-party fund management services must verify third-party eligibility, competence, and careful onboarding. Schemes ... Summary
Third-party fund management requires FMEs to retain scheme liability, oversight, termination rights, indemnity protection, and responsibility for delegated acts.
Fund Management Entities using third-party fund management services must verify third-party eligibility, competence, and careful onboarding. Schemes established under these arrangements remain schemes of the FME, whose liability towards Restricted Schemes and investors continues unaffected. FMEs must monitor and review third-party services, report to fiduciaries, retain termination rights in investors' interests or on regulatory directions, ensure indemnity protection, pay prescribed fees, and remain responsible for all third-party acts, omissions, and commissions.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.