Policy paper: Money Market Funds – Draft SI and Policy Note

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Hm Treasury

December 6

10:00 2023

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Money Markets Framework Policy Note

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The Money Market Funds Regulations: Draft Statutory Instrument

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Details

This draft statutory instrument (SI) is part of HM Treasurys 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 Treasurys 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 governments 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

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