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French Asset Management Association: The draft European Regulation on money market funds is ill-suited to VNAV funds and must be amended

( September 13, 2013, 14:13 GMT | Official Statement) -- MLex Summary: The European Commission’s plans to overhaul how money market funds are regulated are not necessary for those registered in France, a trade body said. The French Asset Management Association argued the measures are costly and ill-suited to variable net asset value funds.The text of the statement follows....

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