Policy paper

Money Market Funds – Draft SI and Policy Note

The government is publishing a near-final version of the statutory instrument to replace the Money Market Funds Regulation and create a new framework for Money Market Funds.

• From: HM Treasury
• Published: 6 December 2023

This was published under the 2022 to 2024 Sunak Conservative government

Documents

Money Markets Framework Policy Note

PDF, 155 KB, 17 pages

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The Money Market Funds Regulations: Draft Statutory Instrument

MS Word Document, 142 KB

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Details

This draft statutory instrument (SI) is part of HM Treasury’s programme to deliver a Smarter Regulatory Framework for financial services, tailored to the UK. 

At Mansion House in July the Government announced that it would repeal and replace the Money Market Funds (MMFs) Regulation as part of the Treasury’s programme to build a Smarter Regulatory Framework for financial services which is tailored to the UK.  

This draft SI, alongside an accompanying explanatory policy note, explains the government’s approach to establishing a new legislative framework for MMFs, and will facilitate the delivery of new FCA rules to replace detailed requirements for MMFs. The government welcomes any technical comments on the draft SI by 24 January 2024. 

Alongside this draft SI and policy note, the FCA is publishing a consultation on their draft rules for Money Market Funds.

Published 6 December 2023