Investment Funds Update - Europe: Legal and regulatory updates for the funds industry from the key asset management centres and primary European fund domiciles. Issue 7, 2018 - France

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AMF publishes Q&A concerning money market funds ("MMF")

In time for MMF Regulations’ entry coming into force on 21 July 2018, the Autorité des Marchés Financiers (the French financial markets regulator) issued a guide on money market funds, outlining the main changes, authorization procedures, information requirements and characteristics of these funds. 

Existing money market funds shall be approved under the new regime before 20 January 2019.

Read: The AMF guide

AFG issues an action plan in the event that a benchmark materially changes or ceases to be provided

Supervised entities under Benchmark Regulation (EU) 2016/1011 of 8 June 2016 shall produce and maintain a plan setting out the actions that shall be taken in case that the benchmark which is used materially changes or ceases to be provided (Article 28). In this context, the AFG has issued a charter describing its recommended action plan. 

Read: The AFG action plan

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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