One of the most significant – and equally controversial – measures undertaken by the Alternative Investment Fund Managers Directive is depository reform.

This article by Andrea Luciano, Head of the Financial Markets Group at SJ Berwin Milano, and David Zahra, founding partner of David Zahra & Associates Advocates, analyses the salient features of the depository reform proposed in the Directive (with particular attention to the European Securities and Markets Authority consultation document issued in July 2012) and the repercussions the reform may have on Malta’s growing hedge fund industry.

This article was first published in Id-Dritt Vol XXIII, a law journal published by  the University of Malta’s Law Students’ Society (GhSL) and is an essential contribution to the Maltese legal sphere since 1944.

The proposed depositary reforms under the AIFM Directive and their impact on Malta’s attractiveness as a growing onshore fund domicile