The SEC last week said it would reform the way certain money-market funds are valued and redeemed. Should clients care?
|The SEC is basically announcing, “These funds are risky.” I’m telling clients to put their cash in CDs and T-bills.|
|The new rules won’t take effect for two years, so we’re not making any changes for the time being.|
|Not at all. Retail funds will still be a buck a share, and redemption “gates” are a good idea.|
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