Caproasia.com | The leading source of data, research, information & resource for financial professionals, investment managers, professional investors, family offices & advisors to institutions, billionaires, UHNWs & HNWs. Covering capital markets, investments and private wealth in Asia. How do you invest $3 million to $300 million? How do you manage $20 million to $3 billion of assets? Caproasia - Learn more
This site is for accredited investors, professional investors, investment managers and financial professionals only.
You should have assets around $3 million to $300 million or managing $20 million to $30 billion.
UK Financial Conduct Authority (FCA) Issues New Rules & Guidance on Money Market Funds (MMFs), Key Changes Include Increase in Minimum Liquid Asset Requirement to 15% Daily Liquid Assets (DLA) & Increase to 50% Weekly Liquid Assets (WLA)
9th June 2026 | Hong Kong
UK Financial Conduct Authority (FCA) has issued new rules & guidance on Money Market Funds (MMFs), with key changes including increase in minimum liquid asset requirement to 15% Daily Liquid Assets (DLA) & increase to 50% Weekly Liquid Assets (WLA). Announcement (8/6/26): “We set out next steps on issuing new rules and guidance on Money Market Funds (MMFs), following Government plans to replace the current rules. On 15 May, the Government set out its expectation that it will lay legislation that will replace the UK Money Market Funds Regulation. Money Market Funds (MMFs) play an important role in the financial system. MMFs are widely used for cash management and provide an alternative or complement to bank deposits for a broad range of investors. However, recent periods of market stress have highlighted the need to strengthen the resilience of these funds.” See below for more details:
“ UK Financial Conduct Authority (FCA) Issues New Rules & Guidance on Money Market Funds (MMFs), Key Changes Include Increase in Minimum Liquid Asset Requirement to 15% Daily Liquid Assets (DLA) & Increase to 50% Weekly Liquid Assets (WLA) “
- Article continues below -
Quick Links, Ads & Announcements
Caproasia Access | Events | Summits | Register Events | The Financial Centre
The 2026 Investment Day | 2026 Family Office Summits | Family Office Circle
Intelligence at your fingertips
Get Started ($29 per year) : Click here
Caproasia Subscription ($680 yearly | $70 monthly): Click here
The 2026 Investment Day
Hong Kong | Singapore
March / July / Sept / Oct / Nov
Private Equity, Hedge Funds, Boutique Funds, Private Markets & more. Join 20+ CIOs & Senior investment team, with > 60% single family offices with $300 million AUM. Taking place in Hong Kong and in Singapore. Every March, April, July, Sept, Oct & Nov.
Visit | Register here
The 2026 Family Office Summit9th / 16th April & 15th Oct Hong Kong Ritz Carlton | 23rd / 30th April & 5th Nov Singapore Amara Sanctuary Resort
Join 60 single family offices & family office professionals in Hong Kong & Singapore
Links: 2026 Family Office Summit | Register here
2026 Investment / Alternatives Summit
March / Oct / Nov in Hong Kong & Singapore
Join leading asset managers, hedge funds, boutique funds, private equity, venture capital & real estate firms in Hong Kong, Singapore & Asia-Pacific at the Investment / Alternatives Summit. Join as delegate, speaker, presenter, partner & sponsor.
Visit | Register here
2026 Private Wealth Summit
April / Oct / Nov in Hong Kong & Singapore
Join CEOs, CIOs, Head of Private Banking, Head of Family Offices & Product Heads at The Private Wealth Summit. Join as delegate, speaker, presenter, partner & sponsor.
Visit | Register here
![](https://www.caproasia.com/wp-content/uploads/2025/08/Air-Charter-Service-728x90-1.png")
Original consultation
We consulted on proposals to strengthen the resilience of UK‑domiciled MMFs in CP23/28, ‘Updating the regime for Money Market Funds’.
The key proposals included:
- A significant increase in the minimum liquid asset requirement for all MMFs, raising daily liquid assets (DLA) and weekly liquid assets (WLA) levels to 15% and 50% of their assets respectively.
- The removal of the regulatory link between liquidity levels in MMFs that have the ability to offer subscriptions and redemptions at a constant net asset value (NAV) (so-called ‘stable NAV MMFs’) and the need for the manager to consider or impose tools such as liquidity fees or redemption gates. This is known as ‘delinking’ and was intended to make those MMFs’ liquidity levels more usable.
Responses to consultation
- Respondents to CP23/28 broadly supported most of the proposals and there was almost universal support for delinking. However, a significant majority of responses raised questions over the proposed increase in MMF liquidity levels. Stakeholders provided helpful input on how firms manage liquidity risk in practice, including observed outflow behaviour in recent stress episodes and the assumptions underpinning the modelling that led to these levels.
- Since the consultation, we and the Bank of England have undertaken further engagement, collected more data and updated the analysis to inform an updated judgement on appropriate levels of resilience for MMFs.
- The updated analysis draws from the Bank of England’s system-wide exploratory scenario exercise, which explored how the UK financial system would respond to a market shock. The exercise indicates that, in some scenarios, outflows from MMFs may be somewhat lower than in previous stress episodes. This reflects changes in market structure and firms’ improved ability to meet liquidity needs through alternative channels. Given these findings, it is appropriate to adjust our previously proposed liquidity standards.
Updated proposals
- We are planning to introduce, through a new rule, a requirement that all MMFs hold sufficient liquidity for adequate resilience. This is to support our objectives of maintaining financial stability and market integrity.
- We intend to retain in rules the current minimum WLA requirements as set out in UK MMFR. However, we intend to set out in guidance our strong supervisory expectation that stable NAV MMFs will need to hold 40% WLA and variable NAV MMFs will need to hold 20% WLA in order to meet the new resilience requirement.
- Given this modified approach to WLA compared to what had been proposed in the consultation, our expectation is that MMFs’ ability to be temporarily below the 40% / 20% WLA levels should be used only to meet redemptions or for reasons that are beyond the manager’s control (which we consider would arise very rarely). We would not expect MMFs to regularly hold lower levels of WLA at quarter and year-end.
- However, we are planning to retain the current minimum DLA requirements and do not plan new guidance on DLA levels. DLA as well as WLA should be sufficient for adequate resilience.
- We intend to introduce in large part the other measures set out in the CP, including delinking and enhanced Know Your Customer requirements on investor concentration and the risk of correlated withdrawal.
- Our updated proposals will deliver a clear increase in the level of resilience expected of UK MMFs while making sure they can continue to meet the needs of investors. They are subject to final consideration and sign-off within the FCA.
Next steps
- The Government has set out its expectation that legislation for the repeal of the MMFR will be introduced by the end of 2026. We plan to make our new MMF rules to this timescale.
- Our policy statement will provide more detail on the updated proposals and the modelling on which they are based.
- We also plan to publish interim final guidance on UK MMF WLA levels before this.
UK Financial Conduct Authority (FCA) Issues New Rules & Guidance on Money Market Funds (MMFs), Key Changes Include Increase in Minimum Liquid Asset Requirement to 15% Daily Liquid Assets (DLA) & Increase to 50% Weekly Liquid Assets (WLA)
Managing $20 million to $3 billion. Investing $3 million to $300 million.
For Investment Managers, Hedge Funds, Boutique Funds, Private Equity, Venture Capital, Professional Investors, Family Offices, Private Bankers & Advisors, sign up today. Subscribe to Caproasia and receive the latest news, data, insights & reports, events & programs daily at 2 pm.
Join Events & Find Services
Join Investments, Private Wealth, Family Office events in Hong Kong, Singapore, Asia-wide. Find hard-to-find $3 million to $300 million financial & investment services at The Financial Centre | TFC. Find financial, investment, private wealth, family office, real estate, luxury investments, citizenship, law firms & more. List hard-to-find financial & private wealth services.
Have a product launch? Promote a product or service? List your service at The Financial Centre | TFC. Join interviews & editorial and be featured on Caproasia.com or join Investments, Private Wealth, Family Office events. Contact us at [email protected] or [email protected]
Caproasia.com | The leading source of data, research, information & resource for financial professionals, investment managers, professional investors, family offices & advisors to institutions, billionaires, UHNWs & HNWs. Covering capital markets, investments and private wealth in Asia. How do you invest $3 million to $300 million? How do you manage $20 million to $3 billion of assets?
Quick Links
Caproasia Access | Events | Summits | Register Events | The Financial Centre
The 2026 Investment Day | 2026 Family Office Summits | Family Office Circle
Web links may be disabled on mobile for security. Please click on desktop.
Caproasia Users
- Manage $20 million to $30 billion of assets
- Invest $3 million to $300 million
- Advise institutions, billionaires, UHNWs & HNWs
Caproasia Platforms | 11,000 Investors & Advisors
- Caproasia.com
- Caproasia Access
- Caproasia Events
- The Financial Centre | Find Services
- Membership
- Family Office Circle
- Professional Investor Circle
- Investor Relations Network
Monthly Roundtable & Networking
Family Office Programs
The 2026 Investment Day
- March - Hong Kong
- March - Singapore
- April - Hong Kong
- April - Singapore
- July - Hong Kong
- July - Singapore
- Sept- Hong Kong
- Sept - Singapore
- Oct- Hong Kong
- Nov - Singapore
- Visit: The Investment Day | Register: Click here
Caproasia Summits
- The Institutional Investor Summit
- The Investment / Alternatives Summit
- The Private Wealth Summit
- The Family Office Summit
- The CEO & Entrepreneur Summit
- The Capital Markets Summit
- The ESG / Sustainable Investment Summit
Contact Us
For Enquiries, Membership [email protected], [email protected] For Listing, Subscription [email protected], [email protected] For Press Release, send to: [email protected] For Events & Webinars [email protected] For Media Kit, Advertising, Sponsorships, Partnerships [email protected] For Research, Data, Surveys, Reports [email protected] For General Enquiries [email protected]Caproasia | Driving the future of Asia
a financial information technology co.
since 2014
