Article 1 Subject matter and scope

United Kingdom

This Regulation lays down rules for money market funds (MMFs) established, managed or marketed in the F1United Kingdom, concerning the financial instruments eligible for investment by a MMF, the portfolio of an MMF, the valuation of the assets of an MMF, and the reporting requirements in relation to an MMF.

This Regulation applies to collective investment undertakings that:

F2(a)

require authorisation as UCITS or are authorised as UCITS under section 243 or 261D of FSMA M1 or regulation 14 of the OEIC Regulations M2; or are AIFs;

(b)

invest in short-term assets; and

(c)

have distinct or cumulative objectives offering returns in line with money market rates or preserving the value of the investment.

F32.

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Annotations

Textual amendments

F1: Words in Art. 1(1) substituted (31.12.2020) by The Money Market Funds (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/394), regs. 1(3), 4(a)(i) (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)
F2: Art. 1(1)(a) substituted (31.12.2020) by The Money Market Funds (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/394), regs. 1(3), 4(a)(ii) (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)
F3: Art. 1(2) omitted (31.12.2020) by virtue of The Money Market Funds (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/394), regs. 1(3), 4(b) (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)