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Reply to "Investing in 529 -- risk?"
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[quote=Anonymous]Short answer: Don't worry. Legalese answer: 529 plans need to be "municipal securities" for a bunch of reasons. Municipal securities are securities...issued by municipalities. When the system requiring registration of securities with the SEC was created in the 1930s, politicians made sure to carve out what they might need - municipal securities. So municipal securities aren't subject to the requirements/cost of registration with the SEC. They are instead subject to the rules of the Municipal Securities Rulemaking Board (MSRB). They are also subject to the antifraud provisions of the Federal Securities Laws even though they are not registered with the SEC. [/quote]
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