As you are no doubt aware, this is clearly on the regulatory agenda at the G20, in IOSCO, at the European Commission and also in the US at the SEC. A few concluding thoughts on the regulatory agenda in this area. My first high-level message, is that the industry in Ireland must be prepared for change.
During the financial crisis, investor runs on MMFs led to a disruption in the flow of finance to  BIS central bankers’ speeches  5  the real economy and necessitated dramatic interventions by public financial authorities.