Throughout August you will have seen a number of regulators publishing updated circulars, opinions and notices in relation to the application of the ESMA Guidelines on stress test scenarios under the Money Market Fund Regulation (EU) 2017/1131 (MMFR). Including regulators such as the: MFSA, CMVM, Central Bank of Ireland, FSMA & CSSF.
Welcome to the Funds-Axis Regulation Round Up! Our monthly update highlights the latest developments impacting the investment compliance industry. The past month brought developments on a range of topics, including: UCITS & AIFMD, Fund Liquidity, Major Shareholdings, Short Selling and PRIIPs KID.
The European Securities and Markets Authority (ESMA) has launched a consultation on potential reforms of the EU Money Market Funds Regulation (MMFR). This follows the SEC’s request for comment seen last month, which similar to the ESMA consultation, reviews the stress experienced by MMFs during the March 2020 crisis and assesses and proposes potential reforms.
Earlier this month the Securities and Exchange Commission (SEC) published a request for public comment on potential reform measures to improve the resilience of money market funds. The request follows the report of the President’s Working Group on Financial Markets issued in December 2020.
Welcome to the first monthly regulatory round-up of 2021. Each month we will be summarising the key announcements and regulatory developments impacting the fund industry. The past month brought developments on a range of issues, from updated FAQs and guidelines impacting UCITS and AIFMs, to consultations…
The past month brought important developments on topics such as fund liquidity, costs and fees charged by fund managers, AIFMD, UCITS and Money Market Funds. Most notably, in the UK, HM Treasury published the responses to the consultation on the Overseas Funds Regime, and the Financial Services Bill…
Despite the continuing focus on the rapidly rising COVID-19 infections rates in the US & Europe, the looming Lockdown 2.0, and the impending, potentially contentious race for the White House, October saw regulators press ahead with the launch of several significant fund regulatory developments.
The big month of liquidity finally arrived where we saw a number of liquidity developments come to fruition at the end of the month, including: ESMA’s new guidelines on liquidity…
All eyes may be on the month ahead as we enter the final countdown for the entering into force of ESMA’s liquidity stress testing guidelines, however, the past month still brought several important developments on topics such as: AIFMD; Money Market Funds; PRIIPs; Liquidity; and Short Selling.
Money market funds (MMFs) are an important part of the European and global investment fund landscape and perform an essential role as a cash management and liquidity tool. They are a type of collective investment fund where households, corporate treasurers or insurance companies can obtain a relatively safe and short-term investment for surplus cash. They have preservation of capital and liquidity as their primary objectives.