EUROPEAN UNION: EU Money Market Fund Regulation Officially Published

Wednesday July 5 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.

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.

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