Flight to safety, spike in cash needs drove liquidity crunch in certain funds
The struggles experienced by some money market funds could spur regulators to take action
Global group of securities regulators has updated reviews of reforms for money market funds and securitizations
Review notes a “general lack of completeness” in fund managers’ policies and procedures
Further progress is needed in some jurisdictions on requirements about imposing credit limits
As interest rates on short-term securities started rising and yield on money market funds increased, it has allowed fund managers to reduce fee waivers
Shift to VNAV fund structure reduces the likelihood of an investor stampede
Impact would vary by firm
RBS says the sale is part of its move to focus on its core businesses
Possible reforms in the U.S. and Europe threaten the traditional structure of constant net asset value funds