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MLex Comment: Custodian banks lack assurance from investment-fund measures

By John Rega ( September 17, 2010, 15:55 GMT | Comment) -- The role and risks for depositaries of investment funds remain murky even as the European Union nears completion of one law -- on hedge funds -- and readies another -- on mutual funds -- to clarify the situation. Some authorities are still pressing for strict liability to protect consumers, while custodian banks argue that such open-ended risk would hurt investment.The role and risks for investment funds' custodian banks remain murky even as the European Union nears completion of one law and readies another to clarify the situation....

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