ESMA - Guidelines for MMFs disclosure

Article

ESMA consults on future guidelines for Money Market Funds' (MMFs) disclosure

30 November 2018

Regulatory News Alert

The MMF Regulation (Art. 37) requires the manager of the MMF, for each MMF managed, to report information to the competent authority of the MMF, at least on a quarterly basis. The frequency of reporting is annual in the case of a MMF whose assets under management do not exceed €100 million.

In the Implementing Technical Standards (ITS), which ESMA delivered in November 2017 and which were endorsed by the European Commission in April 2018, the first quarterly report is to be submitted by November 2019.

To facilitate funds’ regulatory disclosure, the European Securities and Markets Authority (ESMA) has opened a public consultation on draft guidelines providing further specifications on how to fill-in the MMFR reporting template.

This consultation paper proposes to postpone the reporting to the end of Q1 2020. There will be no requirement to retroactively provide historical data for any period prior to this starting date of the reporting.

The information to be contained in the reporting template includes:

  • Information on LNAV
  • MMF characteristic
  • Portfolio indicators
  • Stress tests
  • Information on assets
  • Information on liabilities

ESMA will consider all comments received by 14 February 2019.

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How can Deloitte help you?

Deloitte’s advisory specialists and dedicated services will help you design and implement your business strategy in light of the future evolution of the regulatory framework and market trends.

Additionally, within its Reporting Factory service, Deloitte can help with a range of solutions for the forthcoming MMF reporting tailored to your business needs.

Deloitte can also help you with its RegWatch Kaleidoscope service to stay ahead of the regulatory curve, to better manage and plan upcoming regulations.

Contacts

Nicolas Hennebert
Partner – IM Audit Industry Leader
Tel : +352 45145 4911
nhennebert@deloitte.lu

Xavier Zaegel, FRM
Partner – Capital Markets/Financial Risk Leader
Tel : +352 45145 2748
xzaegel@deloitte.lu

Sylvain Crépin, FRM
Partner – Capital Markets/Financial Risk
Tel : +352 45145 4054
screpin@deloitte.lu

Fabian De Keyn, CQF
Director – OTC Valuations
Tel : +352 45145 3413
fdekeyn@deloitte.lu

Benoit Sauvage
Senior Manager – RegWatch, Strategy
and Consulting
Tel : +352 45145 4220
bsauvage@deloitte.lu

Li Yan
Manager – Capital Markets/Financial Risk
Tel : +352 45145 4794
lyan3@deloitte.lu

Gildas Blanchard
Manager – Capital Markets/Financial Risk
Tel : +352 45145 2962
gblanchard@deloitte.lu

 

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