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by fro0116
2449 days ago
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From the first sentence under the "What are securities" section: > SIPC protects stocks, bonds, Treasury securities, certificates of deposit, mutual funds, money market mutual funds and certain other investments as "securities." |
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People said at the time that Robin Hood was offering a money market fund by another name, using short term investments to produce that 3%. The head of the SIPC took exception to the idea that the accounts would be covered, as I quoted. I can't say where the confusion lies.
https://www.bloomberg.com/opinion/articles/2018-12-13/robinh...