(109)By virtue of its obligation of oversight under Directive 2011/61/EU, the depositary should set up a procedure to verify on an ex-post basis the AIF’s compliance with applicable law and regulations and its rules and instruments of incorporation. This covers areas such as checking that the AIF’s investments are consistent with its investment strategies as described in the AIF’s rules and offering documents and ensuring that the AIF does not breach its investment restrictions, if any. The depositary should monitor the AIF’s transactions and investigate any unusual transactions. If the limits or restrictions set out in the applicable national law or regulations or the AIF rules and instruments of incorporation are breached, the depositary should, for example, obtain an instruction from the AIFM to reverse the transaction that was in breach at its own costs. This Regulation does not prevent the depositary from adopting an ex ante approach where it deems it appropriate and in agreement with the AIFM.