As Prime Money Market Funds Disappear, SEC Rule Draws Questions
Also, Coinbase ruling is a big win for Gensler; Sheila Bair is back, with plenty to say
Just this week, Federated Hermes announced plans to liquidate one of its institutional prime money market funds. The move follows similar recent decisions by two other big money managers, Vanguard and Capital Group, to pull away from the product. Though the closures haven’t caused much of a ripple in the financial world, they’ve certainly been noticed b…