The European Commission (EC) has announced that it will wait until after the summer holidays to release the draft Regulation on Money Market Funds (MMFs).
The European Commission (EC) has delayed the release of the draft Regulation on Money Market Funds (MMFs) until Wednesday 4th September. Commissioner Michel Barnier, the EU’s financial services chief, has postponed plans to introduce these new legislative proposals until after the summer holidays.
This can be seen as offering the opportunity for additional lobbying by the industry and supporters of the industry. Please see our earlier article regarding the context for this decision and the support the UK government is giving. Corporate treasury associations should take the opportunity to add their voices to the intense debate about what level of legislation is appropriate.