WASHINGTON A trend towards more detailed regulation of muni markets by the Municipal Securities Rulemaking Board could have negative, long-term consequences on market participants, the Securities Industry and Financial Markets Association warned the board in a recent letter.
SIFMA Warns MSRB About Too-Detailed, Redundant Rules
MAR 27, 2012 6:02pm ET
A recent phenomenon is the emergence of bonds with shorter call protection as funding alternatives for municipalities. However, the shorter call protection also dampens the potential upside for investors, which in turn reduces the price they are willing to pay.
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