Select Max If Value Of Specific Field Is Y

I need to check if the latest record in a table for the current client, based on EFFECTIVE_DATE, has a value of 'Y' in the STATUS field. Sample records for client #19:

CLIENTEFFECTIVE_DATESTATUS
------ -------------- ------
19 08/13/2010Y
1901/10/2013N
1902/03/2014Y

If I run:
SELECT CLIENT, max(EFFECTIVE_DATE), STATUS
FROM FTABLE GROUP BY CLIENT, STATUS

I get the two latest records since STATUS is different:

CLIENTEFFECTIVE_DATESTATUS
------ -------------- ------
1901/10/2013N
1902/03/2014Y

I wrote the following and it works, but it may be causing 'Insufficient Disk Space' error from the database. Is there any way to write this query without temp table?

DECLARE @TEMPMAX

TABLE (CLIENT INT, EDATE DATE)
INSERT INTO @TEMPMAX (CLIENT, EDATE)
SELECT CLIENT_NO, max(EFFECTIVE_DATE)

[Code] ....

CLIENTEFFECTIVE_DATESTATUS
------ -------------- ------
1902/03/2014Y