Article 4Authorisation of MMFs
1.No collective investment undertaking shall be established, marketed or managed in the Union as an MMF unless it has been authorised in accordance with this Regulation.
Such authorisation shall be valid for all Member States.
2.A collective investment undertaking that requires authorisation as a UCITS under Directive 2009/65/EC and as an MMF under this Regulation for the first time shall be authorised as an MMF as part of the UCITS authorisation procedure pursuant to Directive 2009/65/EC.
Where a collective investment undertaking has already been authorised as a UCITS under Directive 2009/65/EC, it may apply for authorisation as an MMF in accordance with the procedure set out in paragraphs 4 and 5 of this Article.
3.A collective investment undertaking that is an AIF and that requires authorisation as an MMF under this Regulation shall be authorised as an MMF pursuant to the authorisation procedure laid down in Article 5.
4.No collective investment undertaking shall be authorised as an MMF unless the competent authority of the MMF is satisfied that the MMF will be able to meet all the requirements of this Regulation.
5.For the purposes of authorisation as an MMF, a collective investment undertaking shall submit to its competent authority all of the following documents:
(a)the fund rules or instruments of incorporation of the MMF, including an indication of which type of MMF it is from those set out in Article 3(1);
(b)identification of the manager of the MMF;
(c)identification of the depositary;
(d)a description of, or any information on, the MMF available to investors;
(e)a description of, or any information on, the arrangements and procedures needed to comply with the requirements referred to in Chapters II to VII;
(f)any other information or document requested by the competent authority of the MMF to verify compliance with the requirements of this Regulation.
6.The competent authorities shall, on a quarterly basis, inform ESMA of authorisations granted or withdrawn pursuant to this Regulation.
7.ESMA shall keep a central public register identifying each MMF authorised under this Regulation, its type in accordance with Article 3(1), whether it is a short-term or standard MMF, the manager of an MMF and the competent authority of the MMF. The register shall be made available in electronic format.