FCA Seeks Fee System For Regulated Money Market Funds

Law360, London (January 24, 2018, 4:39 PM GMT) -- The Financial Conduct Authority outlined plans Wednesday to impose fees on money market funds so that it can supervise the industry as required by new European rules designed to make sure the funds remain stable during another financial crisis. 

Even though the European Union's new rules will directly regulate Europe's €1 trillion ($1.2 trillion) money market funds sector starting in July, the FCA said it would need to make some changes to its handbook to live up to its new supervisory role under the Money Market Funds Regulation.

The U.K. Treasury is likewise working to give the FCA the power it...

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