CESR published today a consultation paper aiming at a common European definition of money market funds. The paper sets out CESR’s proposals for a common definition of European money market funds.
The key purpose behind a harmonised definition of ‘money market fund’ is improved investor protection. A common definition will also help provide a more detailed understanding of the distinction between funds which operate in a very restricted fashion and those which follow a more ‘enhanced’ approach.
CESR invites stakeholder's view by December 31.
