We quote from the session below. The recording is available here for those that missed it. (Note: Mark your calendars for our next free webinar, Asian Money Fund Symposium, which will take place June 17 from 10am-?12pm EDT. Register here: https://?attendee.?gotowebinar.?com/?register/?1572569223058129680.)

Cohen comments, "As we talk about what'?s going on, with future reforms as well as the 2014 reforms, you'?ll see that the regulators have really moved away from just that idea of trying to preserve the fund'?s stable NAV and have really focused more on systemic risk. They'?ve been focused on potential redemptions; heavy redemptions from money market funds that could cause systemic or contagion issues in the system. So, I just want to kind of keep that in context. That'?s a newer sort of phenomenon with respect to money market funds and the way the regulators look at money market funds."