The IMA is to monitor the holdings of funds in the Money Market sector for the first time, in line with new FSA and European requirements.
A policy statement published by the FSA last month saw the regulator confirm it had introduced European Securities and Markets Authority (ESMA) guidelines on a common definition of European money market funds, within the FSA Collective Investment Schemes handbook. ESMA - then the Committee of European Securities Regulators - sought to harmonise European money market fund definitions in the wake of the financial crisis in 2008, and subsequently created two categories: Money Market Funds and Short-Term Money Market Funds. The deadline for compliance with the definition guidelines was 1 ...
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