IMA to monitor Money Market portfolios

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 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 July 2011;...