On 11 June 2018, there was published on the legislation.gov.uk website The Money Market Funds Regulations 2018 together with an explanatory memorandum. The Regulation gives effect to the EU Money Market Funds Regulation by amending the Financial Services and Markets Act 2000 and relevant secondary legislation to enable applications to be made for funds to be authorised money market funds (MMFs) by the FCA, and for the FCA to exercise its regulatory powers in respect of MMFs. The Regulations come into force 21 days after the day on which they were made, for the purposes of the exercise by the FCA of any power to make rules, give directions or give guidance and on 21 July 2018 for remaining purposes.
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