Money Market Fund Reform
Financial Conduct Authority Policy Statement on Money Market Fund Regulation
View consultation - FCA Policy Statement on Money Market Fund RegulationConsultations and Responses
Periodically we respond to consultations on behalf of the money market fund industry. This process has been particularly important as the future shape of European money market fund regulation has been agreed. Consultations and our responses on the European reforms are included below.
Money Market Fund Reform - UK
Financial Conduct Authority consults on implementing MMF Regulation January 2018.
View consultation - FCA CP18-04 on MMF Regulation implementation pdfView IMMFA response - UK implementation of MMF Regulation March 2018 pdf
Money Market Fund Reform
European Commission sets out approach to MMF secondary legislation in Better Regulation Roadmap January 2018.
View consultation - European Commission Roadmap on MMFR Delegated Acts pdfMoney Market Fund Reform
ESMA (European securities regulators) submit advice to European Commission on secondary legislation November 2017.
View consultation - ESMA advice to Commission on MMF Regulation pdfMoney Market Fund Reform
ESMA (European securities regulators) consulted on secondary legislation during Summer 2017.
View consultation - ESMA consultation on the MMF Regulation 24 May 2017.pdfView IMMFA response - IMMFA response to ESMA 240517 CP on MMF Regulation 030817 FINAL.pdf
Money Market Fund Reform
Political agreement reached during trilogues November 2016, text approved by European Parliament and Council in December 2016.
View consultation - http://data.consilium.europa.eu/doc/document/ST-14939-2016-INIT/en/pdfView IMMFA response - IMMFA on MMF Reform - 14 September 2016
Money Market Fund Reform
Money Market Fund Reform - European Council position 10th June 2016
View consultation - http://data.consilium.europa.eu/doc/document/ST-9874-2016-INIT/en/pdfView IMMFA response - IMMFA on MMF Reform - 24 February 2016
ESMA Call for Evidence / Consultation on Asset Segregation and Custody Services under AIFMD and UCITS - 15 July 2016
ESMA Call for Evidence / Consultation on Asset Segregation and Custody Services under AIFMD and UCITS - 15 July 2016. The deadline for responses is 23 September 2016.
View consultation - ESMA Call for Evidence - Asset Segregation and Custody Services - 15 July 2016View IMMFA response - IMMFA Response to ESMA Call for Evidence - Asset Segregation and Custody Services - 23 September 2016
European Commission - Public Consultation - CMU Action on Cross-border Distribution of Funds Across the EU - 2 June 2016
European Commission - Public Consultation on Cross-border Distribution of Funds Across the EU - 2 June 2016
View consultation - European Commission - Public Consultation - CMU Action on Cross-border Distribution of Funds - 2 June 2016BCBS Consultation on Identification and Measurement of Step-in Risk - December 2015
BCBS Consultation on Identification and Measurement of Step-in Risk - December 2015
View consultation - BCBS Consultation on Identification and Measurement of Step-in Risk - December 2015View IMMFA response - IMMFA Response BCBS step-in consultation Dec15 FINAL - 17 March 2016
EBA Guidelines on Exposures to Shadow Banking - 14 December 2015
The EBA has issued guidelines on limits on EU institutions' exposures to shadow banking entities, within which definition they include MMFs.
View consultation - EBA Consults on Exposures to Shadow BankingView IMMFA response - EBA Guidelines - Limits on exposures to shadow banking entities - 14 December 2015
European Commission - Call for evidence: EU regulatory framework for financial services - 30 September 2015
European Commission- Call for evidence: EU regulatory framework for financial services - 30 September 2015
View consultation - European Commission - Call for evidence: EU regulatory framework for financial servicesView IMMFA response - EC Call for Evidence - IMMFA Response - January 2016
Money Market Fund Reform
Money Market Fund Reform - European Commission Proposal - 4th September 2013
View consultation - http://eur-lex.europa.eu/legal-content/EN/TXT/PDF/?uri=CELEX:52013PC0615&rid=2View IMMFA response - IMMFA on MMF Reform - October 2014
ESMA Discussion Paper MIFID II / MiFIR - 22 May 2014
ESMA Discussion Paper MIFID II / MiFIR - 22 May 2014
View consultation - ESMA Discussion Paper MIFID II / MiFIR - 22 May 2014ESMA Final Report - Revision of the Provisions on Diversification of Collateral in ESMA's Guidelines on ETFs and other UCITS Issues - 24 March 2014
ESMA Final Report - Revision of the Provisions on Diversification of Collateral in ESMA's Guidelines on ETFs and other UCITS Issues - 24 March 2014
View consultation - ESMA Final Report - Revision of the Provisions of Collateral in ESMA's Gudeleines on ETFs and other UCITS IssuesESMA Consultation Paper - Revision of the Provisions on Diversification of Collateral in ESMA’s guidelines on ETFs and other UCITS issues - 20 December 2013
ESMA Consultation Paper - Revision of the Provisions on Diversification of Collateral in ESMA’s guidelines on ETFs and other UCITS issues - 20 December 2013
View consultation - ESMA Consultation Paper - Revision of the Provisions on Diversification of Collateral - Dec 2013View IMMFA response - IMMFA Response to ESMA Consultation - Jan 2014
ESRB Recommendations on Money Market Funds
The ESRB Recommendations on Money Market Funds. This was not a formal consultation but we responded to the report.
View consultation - ESRB Recommendations on MMF - Feb 2013View IMMFA response - IMMFA response to ESRB - Feb 2013
FSB Consultation
'Strengthening Oversight and Regulation of Shadow Banking' - November 2012
View consultation - FSB ConsultationView IMMFA response - IMMFA Response to FSB Consultation
IOSCO Consultation - Money Market Fund Systemic Risk Analysis and Reform Options
The consultation issued by IOSCO considering potential reform to money market fund regulation
View consultation - IOSCO - Money Market funds Systemic Risk Analysis and Reform Options - April 2012View IMMFA response - IMMFA response to IOSCO - May 2012