On 28 August 2018, the CSSF issued its first version of
Frequently Asked Questions (FAQs) concerning the Regulation (EU)
2017/1131 on Money Market Funds (MMFs). The FAQs aim at
highlighting some of the key aspects of the MMF Regulation
("MMFR" or "Regulation") on MMFs and are
addressed to managers of MMFs and MMFs that are established in
Luxembourg.
This first FAQs cover general provisions, obligations concerning
the investment policies of MMFs, obligations concerning the risk
management of MMFs, valuation rules and transparency
requirements.
Under general provisions, a few questions have
been addressed with regard to the impact of distribution policy on
the type of MMFs, the applicability of circular CSSF 08/356 to
those MMFs authorised under the MMFR, assessment of the CSSF on the
materiality of the changes at the level of existing funds pursuant
to the entry into force of the MMFR, eligible entity to manage the
MMFs and the applicability of the MMFR to a
