EACT report on regulatory issues: December 2016
EU members are reminded that their UK operations will continue to be required to comply with EU regulations until Brexit occurs, and should expect much of the EU originated regulation to continue once completed. The UK is separately a member of the G20 and that organisation is the ultimate source of much of the change which has been brought into effect in the UK since 2008 albeit through the EU.
Notable is the agreement on Money Market Funds (MMFs). We have since the EACT report had the new Prospectus Regulation (PR3) published. We will write separately on each of MMF and PR3 in the New Year.”