ESMA finds divergence in national supervision of money market f

A peer review report examining whether EU securities supervisors are correctly applying ESMA’s guidelines on MMFs was published by ESMA.  Thirty supervisory authorities across the EEA were compared in terms of supervisory and enforcement practices.  They found that the majority of jurisdictions implemented the guidelines on MMFs as mandatory requirements, while a minority implemented measures which do not have force of law.  They found the level of implementation, authorisation process and ongoing supervision to differ between member states.