EU Money Market Fund Regulation officially published4 July 2017
The Money Market Fund Regulation (MMFR) was published in the EU’s Official Journal on Friday, 30 June.
MMFR shall apply from 21 July 2018. Existing UCITS and AIF Money Market Funds (MMFs) benefit from an 18 month transitional period and are required, by 21 January 2019, to submit an application to their competent authority, together with all documents and evidence necessary to demonstrate compliance with MMFR.
Implementation of the MMFR from an industry perspective is currently being led by the Irish Funds Money Market Funds Working Group and discussions with the Central Bank on the transition process are ongoing.
Furthermore, ESMA is currently consulting on draft technical advice,implementing standards and guidelines under the MMFR and a response is being prepared through the MMF Working Group. The deadline for responses to the consultation is 7 August.
For members who wish to provide comments in response to the Consultation Paper, please email email@example.com. Comments should be provided by Wednesday, 19 July to allow appropriate time for these comments to be considered in detail by the MMF WG and collated into the submission.