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  • Fact Sheet: US Treasury Guidance On Accounting For Gains And Losses In Certain Money Market Funds

    Date 23/07/2014

    Today, the Securities and Exchange Commission (SEC) voted to require certain money market funds (MMFs) to price shares in a manner that more accurately reflects the market value of the funds’ underlying portfolios.  These particular MMFs will no longer be able to utilize the special exemptions that currently allow them to maintain a stable net asset value (NAV), and instead the share price will float, so the funds will be known as “floating-NAV” MMFs.  If a shareholder frequently purchases and redeems shares (as is the case where the fund is used as a “sweep arrangement”), the shareholder may experience a high volume of small gains and losses.  Tax compliance might be difficult and burdensome if these taxpayers had to ascertain the cost basis and gain or loss for each transaction. 

  • Statement At SEC Open Meeting On Money Market Fund Reform, SEC Chair Mary Jo White, Washington, D.C., July 23, 2014

    Date 23/07/2014

    Good morning, everyone. This is an open meeting of the Securities and Exchange Commission on July 23, 2014.

    The Commission will today consider three recommendations of the staff, all related to money market funds. We will discuss all of these items together and then will vote on each of the three action items separately following our discussion. The first is a recommendation to adopt final rules and the other two are proposals, and I look forward to the staff presentation on all three.

  • DCCC Completes First Physical Delivery Of Plastics Futures Contract - 200 Tonnes Of Polypropylene Delivered On 40 Contracts

    Date 23/07/2014

    The Dubai Commodities Clearing Corporation (DCCC), the central counter-party (CCP) service provider, wholly owned by the Dubai Gold and Commodities Exchange (DGCX), has successfully completed its first physical delivery against the region’s first plastics futures contract.

  • Eze Software Launches New AIFMD Reporting Solution - Helps Fund Managers Simplify The Reporting Process For AIFMD

    Date 23/07/2014

    Eze Software Group, a premier provider of global investment technology, today announced the expansion of Regulatory Filings Manager to support Alternative Investment Fund Managers Directive (AIFMD) Annex IV filings. Clients can now leverage the robust functionality of this enterprise reporting solution to generate necessary reports in accordance with the compliance deadlines of AIFMD.

  • EBA Issues Opinion On A Structural Measure Impacting Limits To Intra-Group Large Exposures Notified By France

    Date 23/07/2014

    The European Banking Authority (EBA) published its Opinion on a draft structural measure of banking separation impacting the limits to intra-group large exposures that France intends to implement at national level. The EBA Opinion assessed the measures laid down in the French legal framework and found that such measure is consistent with the general principles governing the EU internal market.