News

Crane European Money Fund Symposium in Paris - September 2026

Veronica gave the opening speech at the Crane European Money Fund Symposium providing an overview of developments in the last year, including another year of very positive growth and the prospect of a conclusion to European reforms. This important two-day annual industry event was well attended as usual. In addition to growth and reforms, recent developments in fund tokenisation were also highly topical.

Download - Crane European Money Fund Symposium in Paris - September 2026

IMMFA joins panel at Association of Corporate Treasurers (ACT) Conference - May 2026

Veronica Iommi, Secretary General of IMMFA, joined a panel session on ‘Tax, accounting and regulatory updates for treasurers’ at the ACT Annual Conference which took place in Liverpool over 11th and 12th May. The discussion was moderated by Ian Chisholm, Past President, ACT. Veronica provided an overview of industry trends, MMF tokenisation, and an update on regulatory developments, including the most recent announcement by the European Commission

European Association of Corporate Treasurers Summit (EACT) - April 2026

Veronica Iommi, Secretary General of IMMFA, was delighted to join a plenary panel session on “Regulatory Hot Topics for Treasurers” at the European Association of Corporate Treasurers (EACT) 2026 Summit in Brussels on 16–17 April 2026. The panel discussion was moderated by Francois Masquelier, EACT Chair. Veronica provided an overview of Money Market Fund industry trends and an update on regulatory developments.

Download - European Association of Corporate Treasurers Summit (EACT) - April 2026

EuroFinance International Treasury Management in Budapest - October 2025

Veronica Iommi, Secretary General of IMMFA, presented at the EuroFinance Conference which took place in Budapest on 15-17 October. She was joined by a panel of investors as part of a session on cash Investment strategies. Veronica provided an update on MMFs in Europe followed by a discussion of how MMFs can form an integral part of corporate cash management, including how they compare with bank deposits and other alternatives.

Crane European Money Fund Symposium in Dublin - September 2025

Veronica spoke at the Crane Symposium on “The State of MMFs in Europe”, providing a look back at IMMFA’s growth and activity in its 25th anniversary year, an overview of the European MMF landscape, investor trends and the latest regulatory developments.

IMMFA Celebrates 25th Anniversary in 2025

We are delighted to announce that IMMFA is celebrating its 25th Anniversary.
Founded in 2000, with the first AGM in June of that year, IMMFA has now reached a quarter of a century. During that time the MMF industry has seen both enormous growth and significant evolution in terms of investor breadth and the advent of dedicated regulation. In 2001 IMMFA assets under management were EUR80bn equivalent. Today they are over EUR1.2 trillion and account for almost 60% of the total European market, providing a vital cash management tool for investors and flexible, cost-efficient funding for short term issuers.
Since its inception, IMMFA has striven to be a reliable voice for the European MMF industry, educating investors and informing policy makers and regulators through periods of reform. With the IMMFA kitemark, we have helped to ensure that the highest standards are maintained. IMMFA MMFs have come to be used by a broad range of institutional investors not only in Europe but across the globe.
We now have 32 Members consisting of fund managers and service providers. Our recent strategic shift to focus on technology and fund tokenisation has attracted new Associate Members, preparing us for the changes to come.
Throughout the various periods of market volatility which have been a feature of recent years, IMMFA MMFs have continued to serve their purpose, providing liquidity and preserving capital. Their role as a store for liquidity and a cornerstone of market driven funding remains key as we move towards more integrated and efficient capital markets across Europe. As the regulatory debate continues, we will continue to advocate for outcomes which preserve the utility of MMFs and investor choice.
IMMFA Secretary General, Veronica Iommi, and Chair, Alastair Sewell, would like to take the opportunity to thank all our Members, investors and other stakeholders for their contribution in reaching this milestone.

IMMFA joins Funds Europe Roundtable on tokenisation of MMFs

Veronica Iommi, Secretary General of IMMFA, recently participated in a round table hosted by Funds Europe on the Tokenisation of Money Market Funds. Funds Europe is a leading publication for the European cross-border funds industry. The discussion was on the significant advances made in tokenisation within the MMF sector over the past two years and how these advances may now evolve. The panel discussed how tokenisation of MMFs could lead to significant distribution opportunities and could also enable their use as collateral, mitigating liquidity stress in the system.

Funds Europe have published two articles based on the discussion. You can read or listen to the articles in the following links or see the article attached:

Money market funds: the quiet revolution in collateral management
Tokenisation accelerates along the road to 2030 - Funds Europe
Download - IMMFA joins Funds Europe Roundtable on tokenisation of MMFs

ATEL Treasury Day in Luxembourg

Veronica Iommi, Secretary General of IMMFA, was delighted to join at panel on money markets at ATEL’s annual Treasury Day in Luxembourg on 10 June. The panel was chaired by François Masquelier of the European Associate of Corporate Treasurers (Chair ATEL and EACT).
Veronica joined Jean-Philippe Bernard (John Deere Cash Management) and Marc Fleury (BNPP AM, Head of Liquidity Solutions) to discuss “Best Practices in Corporate Treasury Investments; Policy frameworks for liquidity and risk management; Stress testing & scenario analysis for investment portfolios; Case studies: Effective treasury investment strategies”.
Veronica provided an overview of recent activity in MMFs and an update on the status of regulatory reforms.

IMMFA join panel at Association of Corporate Treasurers (ACT) Conference – May 2025

Veronica Iommi, Secretary General of IMMFA, joined a panel session ‘Money Market Funds – Navigating Markets in Unpredictable Times’ at the Annual ACT Conference on 20-21 May in Newport, Wales. The panel discussed the extent to which recent market events had led to volatility in parts of the financial markets. Other panellists included the Bank of England, HSBC and a large UK corporate.
Veronica provided an overview of recent activity in MMFs, reporting that whilst there had been significant market moves in riskier asset classes, the impact on MMF flows had been very muted and IMMFA assets under management (currently over EUR1.2 trillion equivalent) remained stable, before going on to provide an update on the status of regulatory reforms and the implications for corporate treasurers.

Chartered Institute of Public Finance and Accountancy (CIPFA) Annual Treasury Management Conference in London, March 2025

Veronica Iommi, Secretary General of IMMFA, presented at the CIPFA Annual Treasury Management Conference on 25 March in London. Veronica provided an overview of MMFs and recent regulatory developments.

Irish Association of Corporate Treasurers (IACT) Conference – November 2024

Veronica Iommi, Secretary General of IMMFA, presented at the Academy Session of the Irish ACT Annual Conference on 13–14 November 2024 in Dublin. Veronica provided an overview on ‘What are Money Market Funds? How/Why do Treasurers use them?

Crane European Money Fund Symposium in London - September 2024

Veronica spoke at the Crane Symposium on “The State of MMFs in Europe”, providing an update on recent regulatory developments including an overview of the growth of MMFs in Europe, the make-up of the market, recent regulatory developments and the outlook as we enter a new EU mandate.

International Capital Market Association (ICMA) Annual Conference – May 2024

Veronica Iommi, Secretary General of IMMFA, participated in a panel discussion on ‘Short-term Markets – Essential but Vulnerable’ at the ICMA Conference in Brussels on 22 -24 May 2024. The panel was moderated by Hedi Zebidi (Head of International Short Term Debt Origination, Intesa San Paolo). Other panellists were Laurence Caron Habib (Head of Public Affairs, BNP Paribas Asset Management), Stefano Pierini (Chief Finance & Investor Relations Officer, Ferrovie dello Stato) and Anne Wrobel (Head of the Market Analysis and Policy Department, Financial Conduct Authority).

Association of Corporate Treasurers (ACT) Conference – May 2024

Veronica Iommi, Secretary General of IMMFA, participated in a panel discussion on ‘Mastering Market Turbulence: is your investment strategy fit for purpose?’ at the Annual ACT Conference on 20-21 May in Liverpool. The panel was moderated by Steve Carter (Senior Vice President - Head of Liquidity Sales EMEA, Northern Trust Asset Management). Other panellists were Daniel Farrell (Director, International Short Duration, Fixed Income, Northern Trust Asset Management), Adam Boyle (Group Treasurer, Field Energy) and Ian Cooper (Group Treasurer, 3i).

European Association of Corporate Treasurers Summit (EACT) Conference – April 2024

Veronica Iommi, Secretary General of IMMFA, participated in a round table at the EACT Summit on 11–12 April 2024 in La Hulpe, Brussels. In her presentation she provided an overview on the latest industry developments, in particular with regard to regulation.

For more information, please see below the link to the recording of an interview she also gave during the event which is available on the EACT website.

Source - www.dropbox.com/t/6AORkihTVQ7wwaPo

Chartered Institute of Public Finance and Accountancy (CIPFA) Annual Treasury Management Conference in London, March 2024

Veronica Iommi, Secretary General of IMMFA, presented at the CIPFA Annual Treasury Management Conference on 19 March in London. Veronica provided an overview of MMFs and recent regulatory developments.

BLOOMBERG Sterling Money Market Forum – November 2023

Veronica Iommi, Secretary General of IMMFA, participated in a panel session at the Bloomberg Sterling Money Market Forum providing an overview of the European MMF landscape, with a particular focus on Sterling denominated MMFs, and IMMFA’s position on potential regulatory changes.

Download - BLOOMBERG Sterling Money Market Forum – November 2023

EuroFinance International Treasury Management in Barcelona - September 2023

Veronica spoke at EuroFinance in a panel session including treasurer representation entitled “Investments, money markets strategies for higher yielding funds”. Veronica provided an overview of the benefits of MMFs and how MMFs have met recent challenges, followed by an update on recent regulatory developments, in particular publication of the European Commission’s report, and the aspects which corporate treasurers should consider.

Crane European Money Fund Symposium in Edinburgh - September 2023

Veronica spoke at the Crane Symposium on “Money Market Funds in Europe”, providing an update on recent regulatory developments including publication of the European Commission’s report into the effectiveness of MMFR, its possible impact and what we can expect going forward.

Association of Corporate Treasurers (ACT) Conference – May 2023

Veronica Iommi, Secretary General of IMMFA, presented at the Annual ACT Conference on 16-17 May in Newport, Wales. Veronica provided an overview on ‘Latest Developments in Money Market Funds: What could they mean for Corporate Treasurers?’

European Association of Corporate Treasurers Summit (EACT) Conference – April 2023

Veronica Iommi, Secretary General of IMMFA, participated in the EACT Summit on 13–14 April 2023 in Brussels. The link to the video of Veronica’s “fireside chat” with Francois Masquelier, Chairman of the EACT, is on the EACT website.

Source - www.dropbox.com/s/si59inlxobjg5hp/EACT%20-%20Veronica%20I

The Association of the Luxembourg Fund Industry (ALFI) Conference – March 2023

Veronica Iommi, Secretary General for IMMFA, attended the ALFI conference which took place in Luxembourg on 20–22 March 2023.

European Association of Corporate Treasurers (EACT) Conference– December 2022

Veronica Iommi, Secretary General of IMMFA, participated in a panel session on Money Market Funds at the EACT Conference on 15-16 December 2022 in Luxembourg.

Irish Association of Corporate Treasurers (IACT) Conference – November 2022

Veronica Iommi, Secretary General of IMMFA, presented at the Irish ACT Annual Conference on 22–24 November 2022 in Dublin. Veronica provided an overview on ‘Money Market Fund Reforms: What Could they Mean for Treasurers?’

EFAMA Investment Management Forum – November 2022

Veronica Iommi, Secretary General of IMMFA, attended the EFAMA Conference on 16-18 November in Brussels.

Treasury Today Magazine: "MMFs back in the spotlight"

IMMFA contributed to a Treasury Today article on how MMFs were responding to the latest market conditions, including rising interest rates and volatility in the banking sector, and the prospect for further reforms.

Source - treasurytoday.com/funding-and-investing/short-term-invest

ATEL Annual Conference in Luxembourg – October 2022

Veronica Iommi, Secretary General spoke at the Annual Conference and gave an update on MMFs, the current status of regulatory proposals and what investors should be considering in light of potential reforms.

Crane European Money Fund Symposium in Paris - September 2022

Veronica Iommi, Secretary General and IMMFA Chair Kim Hochfeld presented on “The State of MMFs in Europe”, providing an update on recent developments in particular with regard to the process of regulatory reform.

EuroFinance International Treasury Management in Vienna - September 2022

Veronica Iommi, Secretary General presented on "Money Market Funds under Scrutiny”, providing an update on the latest developments in the debate about regulatory reform and considering the potential implications of those reform options for corporate treasurers who invest in MMFs.

ICMA Annual Conference

Veronica Iommi, Secretary General of IMMFA, participated in a panel discussion about ‘Short-term Markets – Essential but Vulnerable’ with Gareth Allen, Global Head of Investments and Execution, UBS, Harald Bänsch, Managing Director and Head of Treasury, MMA5, UniCredit Bank and Gregor Harwell, Director, Lead Euro Cash Portfolio Manager, BlackRock at the ICMA Conference in Vienna on 8 -10 June 2022.

ACT Annual Conference 2022

Veronica Iommi, Secretary General of IMMFA spoke at the ACT Annual Conference which took place in Liverpool on 10 -11 May 2022. In her presentation, she provided an update on MMFs including potential regulatory reforms and what these might mean for investors and issuers.

IMMFA Interview with TMI 21 April 2022

IMMFA (Veronica Iommi) and IMMFA Members (Kim Hochfeld and Beccy Milchem) together with the EACT (François Masquelier) were recently interviewed and featured by TMI in the article “MMF Reform Proposals Threaten LVNAV Viability for European Investors”.

The article suggests that potential regulatory reforms to MMFs currently under discussion at the European Commission level could ‘threaten LVNAV viability for European Treasurers’ in that they would remove the utility and diversity of the LVNAV, which as TMI point out, is one of the most popular short-term investment instruments and widely used by corporate treasurers as well as other cash investors. The article encourages TMI readers who are active MMF investors to make sure their voices are heard by responding directly to the Commission’s targeted consultation.

First published in Treasury Management International and the link to the site: https://treasury-management.com/articles/act-now/

Download - IMMFA Interview with TMI 21 April 2022

EACT Annual Summit in Brussels

Veronica Iommi, Secretary General of IMMFA participated in a panel session moderated by Francois Masquelier, EACT on "Money Market Funds resilience during the pandemic and possible reform” with Fitch Ratings and Airbus at the EACT Annual Summit on 16-18 March 2022, in Brussels. For more information, please see below the link to the recording of her presentation which is also available on the EACT website.

Source - eact.eu/video

IMMFA Secretary General presentation at the European Money Fund Symposium

Veronica Iommi, Secretary General of IMMFA, participated in a panel session on “Regulatory, ESG 7 Ultra-Short Issues” with James Vincent, Executive Director at Goldman Sachs Asset Management and Rob Sabatino, Head of Global Liquidity PM at UBS Asset Management at the annual European Money Fund Symposium organised by Crane Data on Thursday 21 October 2021. Veronica commenced with a short presentation providing an update on Money Market Funds in Europe from IMMFA’s perspective and potential regulatory changes.

Source - attendee.gotowebinar.com/recording/8401344577105073921

EuroFinance International Treasury Conference

Veronica Iommi, Secretary General of IMMFA spoke at the EuroFinance International Treasury Conference 2021 which took place on 27-30 September. She provided an overview of the impact of the pandemic and how MMFs weathered the storm, what may be on the horizon in terms of future reforms and what are the potential implications for treasurers.

ACT Annual Conference 2021

Veronica Iommi, Secretary General of IMMFA spoke at the ACT Annual Conference which took place on 14 -17 June 2021. She provided an overview of the MMF industry in Europe, how MMFs weathered the COVID Storm, key developments on the horizon and IMMFA’s response to potential challenges. For more information, please see below the link to the recording of her presentation which is also available on the ACT website.

Source - vimeo.com/showcase/8510977/video/561418836

Annual IMMFA Address at the European Money Fund Forum 2021

Veronica Iommi, Secretary General of IMMFA and Kim Hochfeld Chair of IMMFA, gave the annual IMMFA Address at the European Money Fund Forum 2021 on 8 June. Their presentation included latest feedback from IMMFA including MMF resilience through COVID-19 stress, evolving challenges and opportunities for MMFs, investors, the money market and industry players, where the industry is now and what is the outlook going forwards.

IMMFA Secretary General presentation at the European Money Fund Symposium

Veronica Iommi, Secretary General of IMMFA, participated in a panel session with Joe McConnell, Portfolio Manager at JP Morgan A.M. and James Vincent, Executive Director at GSAM on Money Market Funds at the annual European Money Fund Symposium organised by Crane Data on Thursday 19 November 2020. Veronica commenced with a short presentation providing an overview of Money Market Funds in Europe from IMMFA’s perspective for 2020 and this followed with a panel discussion between James, Joe and Veronica covering a range of topics including: Supply, Rates, Issuers, Impact of Possible Negative Interest Rates, Technology, ESG, MMFR and Brexit.

Download - IMMFA Secretary General presentation at the European Money Fund Symposium

Global Leadership Meeting organised by the European Risk Management Council

Veronica Iommi, Secretary General of IMMFA, participated in a panel session entitled “Mitigating the COVID-19 impact on business & risk culture and people” at the Global Leadership Meeting on 22 October.

CIPFA ANNUAL TREASURY MANAGEMENT CONFERENCE

Veronica Iommi, Secretary General of IMMFA, spoke at the CIPFA Annual Treasury Management Conference on 10 July. Veronica presented on the latest developments relating to Money Market Funds including their evolution post Reform, the important role they play in channelling liquidity in the real economy, how you can benefit as an investor, impact of the recent “Covid-19 storm” and current key themes and priorities.

ACT Cash Management Conference - London

On February 25th Veronica Iommi, IMMFA Secretary General, spoke at the ACT Cash Management conference in London on Money Market Funds Today. In addition to giving a brief overview of the framework for MMFs and the role of IMMFA for those who might be new to the product, Veronica presented an update on where we stand post reform in terms of fund categories and AUM, drawing attention to the enhanced protection which more prescriptive regulation provides. She also covered key themes of focus for IMMFA and investors, including Brexit, ESG, Technology and Benchmark Reform before explaining how MMFs contribute to the ‘real economy’ by providing a huge pool of liquidity which short term borrowers can tap into. Finally, Veronica linked this to the European Commission’s goal for a more integrated Capital Market with ‘diversified sources of financing’, as MMFs are a great example of disintermediated funding in action.

IMMFA Secretary General interview with Treasury Today - 28 January 2020

Veronica Iommi, Secretary General for IMMFA was recently interviewed by Treasury Today to discuss IMMFA’s Focus on Investor Interests – see below for further details on published article:

Mutual benefit: IMMFA’s focus on investor interests

“On the eve of its 20th anniversary, the Institutional Money Market Funds Association – the only trade association in Europe dedicated to money market funds – spoke to Treasury Today about how its members aim to continue meeting investor needs in a relentlessly volatile economic environment.”

For complete article please go to treasurytoday.com – link below.

Source - treasurytoday.com/insight-and-analysis/short-reads/mutual

IMMFA Secretary General to speak at Eurofinance 2019 in Copenhagen

IMMFA Secretary General will speak on two separate occasions at Eurofinance 2019:

Dealing with a new MMF landscape at 2.40pm on Wednesday 16th October & MMF's: Changing use for Treasurers? at 4.40pm on Thursday 17th October

Download - IMMFA Secretary General to speak at Eurofinance 2019 in Copenhagen