Kathie O'Donnell

"We supported the approved rule change and are extremely disappointed that the MSRB is now proposing to halt the progress it had been making toward full and complete transparency in the municipal securities market," Dimensional Fund Advisors officials said in a letter.

Some local governments have begun formal assessments about whether electric services to their communities should be municipalized or whether their existing franchise agreements can be updated in their favor.

Isaak Bond Investments has agreed to pay a $20,000 fine to settle allegations brought by the Financial Industry Regulatory Authority.

"I've always really enjoyed what I do," said Henry, who began doing legal work involving municipal securities in 1981.

"If you are seeking the services of a municipal advisor, it would be helpful to use the term municipal advisor in your RFP/Qs," said Sanchez, director of the SEC's Office of Municipal Securities.

"I think your first question to them should be 'Are you from the future?,'" the deputy director of the SEC's Office of Municipal Securities said.

Sanchez said the GFOA's debt committee in particular is a place where there could be discussion about what kind of controls are necessary to address the situation. 

The updated document also addresses disclosure relating to cybersecurity.

Some market participants said they were sad to see EMMA Labs go.

The proposal would effectively cancel part of a rule change that had not yet become effective.