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New version applies from 01/04/2020 — introduced by Commission Delegated Regulation (EU) 2018/1618. 109 provisions change. Later versions: 01/08/2022. Article 54 changes in this version: compare with the current text.

Article 54 - Corrective action

Article 54
Corrective action

1. AIFMs shall take such corrective action as is in the best interest of the investors in the relevant AIF where they discover, after the assumption of an exposure to a securitisation, that the determination and disclosure of the retained interest did not meet the requirements laid down in this Regulation.

2. AIFMs shall take such corrective action as is in the best interest of the investors in the relevant AIF, where the retained interest becomes less than 5 % at a given moment after the assumption of the exposure and this is not due to the natural payment mechanism of the transaction.

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