The Money Market Funds Regulations 2018 were made on Monday in relation to the Money Market Funds Regulation, which applies from 21st July 2018, amending FSMA to give the FCA authorisation and intervention powers in respect of unit trust funds and contractual schemes (both may be types of MMF) and amending existing regulations to allow funds which are OEICs or AIFs to be MMFs, and to provide related enforcement powers. European MMFs manage c. €1 trillion of assets and constitute around 15% of the EU’s funds industry; they are mostly established in France, Ireland and Luxembourg. Click here for a detailed analysis of the regulations from Michael McKee and colleagues.