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On 1 October 2024, Baker McKenzie Luxembourg held its first DepoBank Day event bringing together over 120 market stakeholders, including the regulator, heads of depositary services, bank and custody experts to engage in meaningful discussions about custody and fund depositary laws and the essential duties and liabilities of depository banks.
Laurent Fessmann, Investment Funds leader at Baker McKenzie Luxembourg and the event's master of ceremonies, kicked off the conference by quoting the official EU Commission spokespersons in the aftermath of 2010 financial crisis: “Too many failures, too many negligence were committed, YOU (depositaries) are the stakeholders which have to take back control over the funds operating processes. YOU (depositaries) are the servicing...
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