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The European Securities and Markets Authority ("ESMA") published a Q&A paper on a common definition of EU money market funds ("MMFs") on 26 August 2011
Further to the ESMA consulation paper on possible implementing measures of the AIFM Directive issued on 13 July 2011 the AFG (i.e. the French association for investment management industry) published on 13 September its response to the ESMA consultation
The Investment Management Association (the "IMA") has published its response dated 10 August 2011 to the European Commission's June 2011 consultation on a new European regime for venture capital
Revision of the Markets in Financial Instruments Directive ("MiFID") (which is now four years old), is a part of the European Commission's attempt to strengthen the rules governing financial markets in light of the financial crisis and to introduce additional rules relating to practices that were not widespread at the time of the original Directive
In its proposal for the Multiannual Financial Framework, the European Commission proposed the introduction of a financial transaction tax ("FTT") as a new own resource for the EU Budget
The media reported on 15 September 2011 that the UK Government has commenced legal proceedings against the European Central Bank (the "ECB") concering proposed rules on clearing in the European Court of Justice
Readers will remember that this Directive was the subject of a record several thousand amendments during the legislative process in Brussels before it was finally published in the Offical Journal on 1 July 2011
