Selected regulatory updates of interest to the funds and asset management sector. This week reports on ESMA's update to the MMF Regulation validation rules. See also our Related Materials links for regulatory updates of broad application.
The European Securities and Markets Authority (ESMA) has announced that it has updated its validation rules regarding the EU Regulation on money market funds (MMF Regulation). The update relates to the requirements of Article 37 of that MMF Regulation which requires money market fund managers to submit data to national competent authorities, which then transmit the data to ESMA. The updates are available on ESMA's fund management reporting webpage.
Following feedback received by market participants after the publication of the validation rules, ESMA has decided to implement amendments to them. ESMA states that the proposed changes do not relate to the published XML schemas. Instead, the changes provide clarifications on existing validation rules in order to fix inconsistencies or ease the understanding of the rules. It also extends the Classification of Financial Instruments codes for eligible assets.
Authored by Yvonne Clapham
Download the full bulletin of regulatory news for financial institutions, 14 December 2020
Financial institutions general regulatory news, 14 December 2020
Banking and finance regulatory news, 14 December 2020
Insurance regulatory news, 14 December 2020
Payments regulatory news, 14 December 2020
Securities and markets regulatory news, 14 December 2020
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